CarMax, Inc. (NYSE:KMX) Stock Holdings Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in CarMax, Inc. (NYSE:KMX) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,391 shares of the company’s stock after selling 1,831 shares during the quarter. King Luther Capital Management Corp’s holdings in CarMax were worth $3,989,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. First Community Trust NA purchased a new position in shares of CarMax in the second quarter worth approximately $29,000. Blue Trust Inc. increased its position in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares in the last quarter. Studio Investment Management LLC increased its position in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of CarMax in the first quarter worth approximately $55,000. Finally, First Financial Corp IN increased its position in shares of CarMax by 127.2% in the first quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock worth $91,000 after acquiring an additional 585 shares in the last quarter.

CarMax Stock Performance

KMX stock opened at $76.10 on Friday. 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 company has a market capitalization of $11.88 billion, a price-to-earnings ratio of 29.73, a P/E/G 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 firm has a 50 day moving average of $80.26 and a two-hundred day moving average of $76.52.

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

Insider Transactions at CarMax

In other news, SVP Jon G. Daniels sold 1,231 shares of the business’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 completion of the sale, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Jon G. Daniels sold 1,231 shares of the business’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 completion of the sale, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Nash sold 120,000 shares of the business’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 sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,243 shares of company stock worth $14,893,042. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on KMX. Needham & Company LLC dropped their target price on shares of CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research report on Tuesday, September 17th. StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Finally, Evercore ISI boosted their price objective on shares of CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, CarMax currently has a consensus rating of “Hold” and an average target price of $77.08.

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.