CarMax, Inc. (NYSE:KMX) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its holdings in CarMax, Inc. (NYSE:KMX) by 31.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,763 shares of the company’s stock after selling 7,343 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CarMax were worth $1,289,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its position in CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after acquiring an additional 1,713,379 shares in the last quarter. Holocene Advisors LP grew its holdings in CarMax by 740.2% in the third quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after purchasing an additional 834,232 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CarMax by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after buying an additional 436,342 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of CarMax in the 3rd quarter worth about $6,942,000. Finally, Neo Ivy Capital Management acquired a new stake in CarMax in the 3rd quarter valued at about $3,934,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on KMX. JPMorgan Chase & Co. lifted their target price on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Mizuho lifted their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Truist Financial boosted their price target on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Finally, Stephens began coverage on CarMax in a research note on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $85.42.

CarMax Price Performance

Shares of NYSE KMX opened at $84.29 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The business has a 50 day moving average price of $83.06 and a two-hundred day moving average price of $79.57. The firm has a market cap of $12.96 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 1.66 and a beta of 1.72.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. Sell-side analysts expect that CarMax, Inc. will post 3.25 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the transaction, the senior vice president now directly owns 227 shares of the company’s stock, valued at approximately $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Nash sold 120,513 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total value of $10,031,502.12. Following the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $15,123,292.92. This represents a 39.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock valued at $21,915,445 over the last three months. 1.66% of the stock is owned by insiders.

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.