Conning Inc. cut its position in shares of CarMax Inc. (NYSE:KMX) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 4,799 shares of the company’s stock after selling 110 shares during the period. Conning Inc.’s holdings in CarMax were worth $235,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Canada Pension Plan Investment Board raised its position in CarMax by 52.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the company’s stock worth $133,000 after buying an additional 900 shares in the last quarter. IFP Advisors Inc raised its position in CarMax by 9.8% in the first quarter. IFP Advisors Inc now owns 2,820 shares of the company’s stock worth $144,000 after buying an additional 251 shares in the last quarter. ING Groep NV acquired a new position in CarMax during the first quarter worth approximately $229,000. Silvercrest Asset Management Group LLC acquired a new position in CarMax during the first quarter worth approximately $237,000. Finally, Eqis Capital Management Inc. raised its position in CarMax by 4.4% in the second quarter. Eqis Capital Management Inc. now owns 7,383 shares of the company’s stock worth $362,000 after buying an additional 308 shares in the last quarter.
Shares of CarMax Inc. (NYSE:KMX) traded down 0.60% during mid-day trading on Thursday, hitting $52.78. 1,361,992 shares of the company’s stock traded hands. CarMax Inc. has a 1-year low of $41.25 and a 1-year high of $60.81. The stock has a 50 day moving average price of $56.53 and a 200-day moving average price of $53.74. The stock has a market cap of $10.09 billion, a P/E ratio of 17.16 and a beta of 1.42.
CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.88. CarMax had a net margin of 3.95% and a return on equity of 20.92%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter last year, the company earned $0.79 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that CarMax Inc. will post $3.28 EPS for the current fiscal year.
A number of research analysts have recently issued reports on KMX shares. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of CarMax in a research note on Wednesday, June 22nd. Buckingham Research reiterated a “buy” rating and set a $60.00 price target on shares of CarMax in a research note on Tuesday, June 21st. Goldman Sachs Group Inc. set a $63.00 price target on shares of CarMax and gave the stock a “buy” rating in a research note on Monday, September 19th. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, September 13th. Finally, Vetr lowered shares of CarMax from a “buy” rating to a “hold” rating and set a $57.52 price target on the stock. in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $62.01.
In related news, CEO Thomas J. Folliard sold 221,827 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $55.48, for a total value of $12,306,961.96. Following the sale, the chief executive officer now owns 758,517 shares of the company’s stock, valued at approximately $42,082,523.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Folliard sold 271,435 shares of the stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $55.39, for a total transaction of $15,034,784.65. Following the completion of the sale, the chief executive officer now directly owns 758,517 shares in the company, valued at approximately $42,014,256.63. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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