CarMax, Inc. (NYSE:KMX) Holdings Trimmed by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its position in shares of CarMax, Inc. (NYSE:KMX) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 149,778 shares of the company’s stock after selling 850 shares during the period. iA Global Asset Management Inc. owned 0.10% of CarMax worth $13,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of CarMax by 0.5% during the 4th quarter. Raymond James & Associates now owns 294,659 shares of the company’s stock valued at $22,612,000 after acquiring an additional 1,483 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of CarMax by 12.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 23,755 shares of the company’s stock valued at $1,823,000 after acquiring an additional 2,546 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of CarMax by 9.7% during the 4th quarter. Global Retirement Partners LLC now owns 9,024 shares of the company’s stock valued at $693,000 after acquiring an additional 796 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 in the last quarter. Finally, Regatta Capital Group LLC purchased a new position in shares of CarMax during the 4th quarter valued at $219,000.

Analysts Set New Price Targets

Several research firms have recently commented on KMX. JPMorgan Chase & Co. lowered their price target on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research note on Monday, June 24th. Mizuho reduced their price objective on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Finally, Needham & Company LLC reduced their price objective on shares of CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.25.

CarMax Stock Performance

CarMax stock traded down $2.84 on Thursday, reaching $81.60. 2,566,474 shares of the stock were exchanged, compared to its average volume of 1,983,533. The stock has a market cap of $12.74 billion, a PE ratio of 31.66, a PEG ratio of 1.71 and a beta of 1.69. 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, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22. The firm has a fifty day moving average price of $74.42 and a two-hundred day moving average price of $74.71.

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

Insider Activity at CarMax

In related news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the transaction, 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. Insiders have sold a total of 185,243 shares of company stock valued at $14,893,042 over the last quarter. 1.66% of the stock is owned by company 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.