American Century Companies Inc. Lowers Holdings in CarMax, Inc. (NYSE:KMX)

American Century Companies Inc. trimmed its position in shares of CarMax, Inc. (NYSE:KMX) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 950,121 shares of the company’s stock after selling 9,493 shares during the quarter. American Century Companies Inc. owned about 0.61% of CarMax worth $69,682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of CarMax during the fourth quarter valued at approximately $288,278,000. Morningstar Investment Services LLC raised its stake in shares of CarMax by 95.4% in the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after purchasing an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of CarMax by 1,327.3% during the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock valued at $89,070,000 after purchasing an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in shares of CarMax by 3,094.0% during the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after buying an additional 577,685 shares during the last quarter. Finally, Verition Fund Management LLC increased its holdings in CarMax by 5,711.9% in the 4th quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock worth $32,781,000 after buying an additional 419,826 shares in the last quarter.

Insiders Place Their Bets

In other news, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now directly owns 15,609 shares in the company, valued at $1,249,032.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $965,567.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares in the company, valued at approximately $1,249,032.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,243 shares of company stock worth $14,893,042. Corporate insiders own 1.66% of the company’s stock.

CarMax Trading Up 3.3 %

Shares of NYSE:KMX opened at $78.78 on Friday. The stock has a 50 day moving average of $80.14 and a 200 day moving average of $76.53. The company has a market cap of $12.30 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.53 and a beta of 1.69. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same period in the prior year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, equities research analysts expect that CarMax, Inc. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on KMX. Truist Financial upped their target price on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research report on Monday, June 24th. Wedbush reissued an “outperform” rating and set a $95.00 price target on shares of CarMax in a report on Friday, August 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of CarMax in a report on Friday, June 21st. Finally, Mizuho lowered their target price on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.25.

About CarMax

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.