Argent Trust Co Increases Stock Holdings in CarMax, Inc. (NYSE:KMX)

Argent Trust Co lifted its position in CarMax, Inc. (NYSE:KMX) by 22.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,509 shares of the company’s stock after buying an additional 5,739 shares during the quarter. Argent Trust Co’s holdings in CarMax were worth $2,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Community Trust NA purchased a new stake in shares of CarMax in the second quarter worth about $29,000. Blue Trust Inc. raised its stake in CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares in the last quarter. Studio Investment Management LLC raised its stake in CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares in the last quarter. Headlands Technologies LLC purchased a new stake in CarMax in the first quarter valued at approximately $55,000. Finally, First Financial Corp IN raised its stake in CarMax by 127.2% in the first quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock valued at $91,000 after purchasing an additional 585 shares in the last quarter.

CarMax Stock Performance

NYSE:KMX opened at $77.21 on Thursday. The stock has a market cap of $12.05 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 1.53 and a beta of 1.69. The firm’s fifty day simple moving average is $80.40 and its 200 day simple moving average is $76.53. CarMax, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22. The company has a quick ratio of 0.60, a current ratio of 2.50 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 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. As a group, research analysts predict that CarMax, Inc. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of recent analyst reports. Truist Financial raised 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. Morgan Stanley reiterated an “overweight” rating and set a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. StockNews.com upgraded shares of CarMax to a “sell” rating in a report on Friday, July 26th. Mizuho cut their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Finally, Argus upgraded shares of CarMax to a “hold” rating in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, CarMax has an average rating of “Hold” and a consensus price target of $76.25.

Insider Buying and Selling at CarMax

In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the transaction, the senior vice president now directly owns 995 shares of the company’s stock, valued at approximately $72,097.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,243 shares of company stock valued at $14,893,042. 1.66% of the stock is currently owned by company insiders.

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.