Concord Wealth Partners Sells 8,130 Shares of CarMax, Inc. (NYSE:KMX)

Concord Wealth Partners lowered its stake in CarMax, Inc. (NYSE:KMX) by 93.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 576 shares of the company’s stock after selling 8,130 shares during the period. Concord Wealth Partners’ holdings in CarMax were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. boosted its position in shares of CarMax by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock valued at $392,458,000 after buying an additional 210,440 shares during the last quarter. Invesco Ltd. grew its stake in shares of CarMax by 3.1% in the third quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock worth $207,843,000 after acquiring an additional 88,488 shares during the period. Cooke & Bieler LP raised its holdings in shares of CarMax by 3.1% during the fourth quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock valued at $179,928,000 after purchasing an additional 69,409 shares during the last quarter. Northern Trust Corp lifted its position in CarMax by 3.2% during the third quarter. Northern Trust Corp now owns 1,570,993 shares of the company’s stock valued at $111,116,000 after purchasing an additional 48,879 shares during the period. Finally, Giverny Capital Inc. grew its position in CarMax by 1.3% in the 3rd quarter. Giverny Capital Inc. now owns 1,520,438 shares of the company’s stock worth $107,541,000 after purchasing an additional 20,198 shares during the period.

CarMax Stock Performance

CarMax stock opened at $68.71 on Friday. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. CarMax, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22. The company’s 50-day moving average price is $77.62 and its 200-day moving average price is $72.08. The company has a market cap of $10.81 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.14 and a beta of 1.64.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that CarMax, Inc. will post 3.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the sale, the executive vice president now directly owns 6,977 shares in the company, valued at $485,110.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KMX. StockNews.com raised shares of CarMax to a “sell” rating in a report on Monday, April 22nd. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of CarMax in a research report on Tuesday, April 9th. Evercore ISI cut their price objective on CarMax from $85.00 to $74.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Mizuho decreased their target price on shares of CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, Robert W. Baird reduced their price objective on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.42.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.