Patten & Patten Inc. TN cut its position in CarMax Inc (NYSE:KMX) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,630 shares of the company’s stock after selling 1,930 shares during the period. Patten & Patten Inc. TN’s holdings in CarMax were worth $2,499,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of KMX. BlackRock Inc. raised its position in CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock worth $656,668,000 after buying an additional 10,752,554 shares in the last quarter. William Blair Investment Management LLC bought a new position in CarMax during the first quarter worth approximately $47,370,000. Marathon Asset Management LLP raised its position in CarMax by 68.5% in the second quarter. Marathon Asset Management LLP now owns 754,913 shares of the company’s stock worth $47,605,000 after buying an additional 306,901 shares in the last quarter. Morgan Stanley raised its position in CarMax by 156.4% in the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock worth $27,019,000 after buying an additional 278,328 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of CarMax by 42.2% in the first quarter. Russell Investments Group Ltd. now owns 869,717 shares of the company’s stock worth $51,505,000 after buying an additional 258,213 shares during the last quarter.
CarMax Inc (NYSE KMX) traded up 0.77% during midday trading on Friday, hitting $64.42. The stock had a trading volume of 944,395 shares. CarMax Inc has a 12 month low of $47.50 and a 12 month high of $69.11. The company has a market cap of $11.80 billion, a P/E ratio of 18.50 and a beta of 1.34. The firm’s 50-day moving average price is $64.65 and its 200 day moving average price is $62.81.
CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 21st. The company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.15. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.46 billion. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. On average, analysts expect that CarMax Inc will post $3.70 earnings per share for the current fiscal year.
KMX has been the subject of a number of research analyst reports. ValuEngine downgraded CarMax from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Oppenheimer Holdings, Inc. set a $72.00 target price on CarMax and gave the stock a “buy” rating in a report on Monday, June 19th. Deutsche Bank AG reiterated a “buy” rating and issued a $73.00 target price (up from $71.00) on shares of CarMax in a report on Thursday, June 22nd. Wedbush upgraded CarMax from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $70.00 in a report on Thursday, May 18th. Finally, Zacks Investment Research upgraded CarMax from a “sell” rating to a “hold” rating in a report on Monday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $69.00.
In related news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $66.87, for a total transaction of $573,945.21. Following the completion of the transaction, the chief financial officer now owns 70,522 shares of the company’s stock, valued at approximately $4,715,806.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mohammad Shamim sold 13,938 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $66.08, for a total value of $921,023.04. Following the transaction, the senior vice president now directly owns 9,218 shares of the company’s stock, valued at approximately $609,125.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,515 shares of company stock valued at $12,085,019. 1.70% of the stock is currently owned by company insiders.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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