BB&T Corp lessened its stake in CarMax, Inc (NYSE:KMX) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,745 shares of the company’s stock after selling 351 shares during the quarter. BB&T Corp’s holdings in CarMax were worth $506,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of CarMax by 0.6% in the second quarter. Vanguard Group Inc. now owns 18,089,921 shares of the company’s stock worth $1,570,748,000 after buying an additional 100,745 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of CarMax by 10,954.6% in the second quarter. Nuveen Asset Management LLC now owns 3,005,757 shares of the company’s stock worth $260,989,000 after buying an additional 2,978,567 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of CarMax by 61.2% in the second quarter. Wells Fargo & Company MN now owns 1,493,476 shares of the company’s stock worth $129,679,000 after buying an additional 566,892 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of CarMax in the second quarter worth $128,466,000. Finally, Giverny Capital Inc. lifted its holdings in shares of CarMax by 2.6% in the second quarter. Giverny Capital Inc. now owns 1,220,105 shares of the company’s stock worth $105,942,000 after buying an additional 31,307 shares in the last quarter.
In related news, SVP Darren C. Newberry sold 24,551 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $90.51, for a total value of $2,222,111.01. Following the sale, the senior vice president now owns 7,413 shares in the company, valued at $670,950.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.09% of the company’s stock.
Several equities analysts have recently commented on the stock. Buckingham Research boosted their target price on shares of CarMax from $94.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Guggenheim boosted their target price on shares of CarMax from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley lowered their target price on shares of CarMax from $99.00 to $97.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Stephens boosted their target price on shares of CarMax from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $95.42.
Shares of KMX opened at $93.88 on Friday. The company’s fifty day moving average is $90.67 and its 200 day moving average is $84.89. CarMax, Inc has a fifty-two week low of $55.24 and a fifty-two week high of $96.36. The stock has a market capitalization of $15.70 billion, a PE ratio of 19.60, a P/E/G ratio of 1.44 and a beta of 1.14. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.56 and a current ratio of 2.42.
CarMax (NYSE:KMX) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. CarMax had a net margin of 4.60% and a return on equity of 25.50%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the business posted $1.24 earnings per share. CarMax’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts forecast that CarMax, Inc will post 5.29 earnings per share for the current year.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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