Centaurus Financial Inc. Trims Stake in CarMax, Inc. (NYSE:KMX)

Centaurus Financial Inc. lessened its stake in shares of CarMax, Inc. (NYSE:KMX) by 10.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,769 shares of the company’s stock after selling 311 shares during the period. Centaurus Financial Inc.’s holdings in CarMax were worth $212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in CarMax by 16.4% in the fourth quarter. BNP Paribas Financial Markets now owns 127,402 shares of the company’s stock worth $9,777,000 after buying an additional 17,973 shares in the last quarter. Fairview Capital Investment Management LLC lifted its position in CarMax by 7.0% during the fourth quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock valued at $19,302,000 after purchasing an additional 16,438 shares during the period. Quadrature Capital Ltd acquired a new position in CarMax during the fourth quarter valued at $5,637,000. Charles Schwab Investment Management Inc. lifted its position in CarMax by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company’s stock valued at $76,058,000 after purchasing an additional 30,107 shares during the period. Finally, First Pacific Advisors LP lifted its position in CarMax by 1.2% during the fourth quarter. First Pacific Advisors LP now owns 2,331,545 shares of the company’s stock valued at $178,923,000 after purchasing an additional 28,095 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KMX shares. JPMorgan Chase & Co. decreased their price objective on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Monday, April 15th. Needham & Company LLC dropped their price objective on shares of CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of CarMax in a research note on Tuesday. Evercore ISI dropped their price target on shares of CarMax from $72.00 to $68.00 and set an “in-line” rating for the company in a research note on Thursday, June 6th. Finally, Truist Financial lowered their price objective on shares of CarMax from $72.00 to $66.00 and set a “hold” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, CarMax currently has a consensus rating of “Hold” and a consensus price target of $76.17.

CarMax Stock Performance

NYSE:KMX opened at $71.49 on Wednesday. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The firm has a 50 day simple moving average of $70.65 and a 200-day simple moving average of $73.74. The firm has a market cap of $11.25 billion, a PE ratio of 23.59, a P/E/G ratio of 1.36 and a beta of 1.69. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.67.

CarMax (NYSE:KMX) last released its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. CarMax’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities analysts expect that CarMax, Inc. will post 3.1 EPS for the current year.

Insider Transactions at CarMax

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

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.