Toronto Dominion Bank Cuts Stake in CarMax, Inc. (NYSE:KMX)

Toronto Dominion Bank reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 28.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,000 shares of the company’s stock after selling 18,583 shares during the quarter. Toronto Dominion Bank’s holdings in CarMax were worth $4,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in KMX. GAMMA Investing LLC boosted its position in shares of CarMax by 6.5% during the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after acquiring an additional 131 shares during the last quarter. Spire Wealth Management boosted its position in shares of CarMax by 8.3% during the 4th quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock valued at $146,000 after acquiring an additional 147 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of CarMax by 32.8% during the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after acquiring an additional 155 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CarMax by 0.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,223 shares of the company’s stock valued at $1,782,000 after acquiring an additional 157 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of CarMax by 1.9% during the 4th quarter. Fifth Third Bancorp now owns 8,749 shares of the company’s stock valued at $671,000 after acquiring an additional 164 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on KMX shares. Morgan Stanley reiterated an “overweight” rating and set a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Argus upgraded CarMax to a “hold” rating in a research report on Tuesday, June 25th. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of CarMax in a research report on Monday, June 24th. Robert W. Baird lowered their price target on CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday, April 12th. Finally, Needham & Company LLC lowered their price target on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Hold” and a consensus price target of $76.25.

CarMax Stock Up 1.8 %

NYSE:KMX opened at $83.02 on Friday. CarMax, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22. The company has a market cap of $12.96 billion, a price-to-earnings ratio of 32.43, a price-to-earnings-growth ratio of 1.69 and a beta of 1.69. The stock has a fifty day simple moving average of $73.66 and a 200-day simple moving average of $74.44. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last released 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. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same period last year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. Analysts anticipate that CarMax, Inc. will post 2.99 EPS for the current year.

Insider Transactions at CarMax

In other news, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the sale, the chief operating officer now directly owns 15,609 shares in the company, valued at $1,249,032.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jon G. Daniels sold 1,231 shares of the firm’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 transaction, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,243 shares of company stock worth $12,836,542. 1.66% of the stock is currently owned by insiders.

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.