ProVise Management Group LLC Purchases 3,163 Shares of CarMax, Inc. (NYSE:KMX)

ProVise Management Group LLC raised its holdings in shares of CarMax, Inc. (NYSE:KMX) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,315 shares of the company’s stock after buying an additional 3,163 shares during the period. ProVise Management Group LLC’s holdings in CarMax were worth $5,230,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of KMX. WCG Wealth Advisors LLC grew its stake in CarMax by 14.8% in the second quarter. WCG Wealth Advisors LLC now owns 44,508 shares of the company’s stock valued at $3,264,000 after purchasing an additional 5,740 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of CarMax by 20.5% in the second quarter. Hsbc Holdings PLC now owns 210,889 shares of the company’s stock worth $15,463,000 after purchasing an additional 35,923 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in CarMax by 49.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,480 shares of the company’s stock valued at $681,000 after acquiring an additional 3,155 shares during the period. Argent Trust Co lifted its position in CarMax by 22.3% during the second quarter. Argent Trust Co now owns 31,509 shares of the company’s stock valued at $2,311,000 after purchasing an additional 5,739 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after buying an additional 51,397 shares during the period.

Insider Buying and Selling

In related news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 11,738 shares of the company’s stock, valued at $965,567.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mohammad Shamim sold 25,000 shares of CarMax 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 completion of the transaction, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the sale, 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. In the last ninety days, insiders have sold 185,243 shares of company stock valued at $14,893,042. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Argus raised shares of CarMax to a “hold” rating in a research note on Tuesday, June 25th. Oppenheimer restated an “outperform” rating and set a $105.00 price target on shares of CarMax in a research report on Monday, June 24th. Needham & Company LLC dropped their target price on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a report on Monday, June 24th. StockNews.com upgraded shares of CarMax to a “sell” rating in a report on Friday, July 26th. Finally, Evercore ISI raised their price objective on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.08.

CarMax Stock Performance

NYSE:KMX opened at $77.39 on Friday. The firm has a 50 day simple moving average of $80.41 and a 200-day simple moving average of $76.54. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The firm has a market cap of $12.08 billion, a PE ratio of 30.23, a P/E/G ratio of 1.53 and a beta of 1.69. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $7.11 billion for 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 business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. On average, equities analysts expect that CarMax, Inc. will post 2.99 EPS for the current year.

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.