Park Avenue Securities LLC Decreases Stock Position in CarMax, Inc. (NYSE:KMX)

Park Avenue Securities LLC lessened its holdings in CarMax, Inc. (NYSE:KMX) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,035 shares of the company’s stock after selling 1,740 shares during the quarter. Park Avenue Securities LLC’s holdings in CarMax were worth $1,009,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. First Community Trust NA purchased a new stake in CarMax during the 2nd quarter worth approximately $29,000. Quarry LP lifted its stake in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares during the period. Blue Trust Inc. grew its holdings in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the last quarter. Studio Investment Management LLC increased its position in shares of CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after acquiring an additional 334 shares during the period. Finally, Headlands Technologies LLC purchased a new position in CarMax in the 1st quarter worth $55,000.

CarMax Price Performance

Shares of CarMax stock opened at $72.13 on Wednesday. The firm has a market cap of $11.26 billion, a PE ratio of 28.18, a P/E/G ratio of 1.56 and a beta of 1.68. 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. The business has a 50-day moving average price of $78.70 and a 200 day moving average price of $75.90.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KMX shares. StockNews.com upgraded CarMax to a “sell” rating in a research note on Friday, July 26th. Evercore ISI cut their price target on shares of CarMax from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Truist Financial lifted their price objective on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada boosted their target price on shares of CarMax from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.45.

Insiders Place Their Bets

In other news, SVP John M. Stuckey III sold 19,673 shares of CarMax stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $82.01, for a total value of $1,613,382.73. Following the sale, the senior vice president now owns 969 shares in the company, valued at $79,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP John M. Stuckey III sold 19,673 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $82.01, for a total value of $1,613,382.73. Following the transaction, the senior vice president now owns 969 shares in the company, valued at $79,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,012 shares of company stock worth $14,803,843. Company insiders own 1.66% of the company’s stock.

CarMax 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.