Redmond Asset Management LLC trimmed its position in shares of CarMax, Inc (NYSE:KMX) by 2.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,533 shares of the company’s stock after selling 2,351 shares during the quarter. CarMax accounts for 3.2% of Redmond Asset Management LLC’s investment portfolio, making the stock its 2nd largest holding. Redmond Asset Management LLC owned 0.05% of CarMax worth $7,514,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of KMX. AdvisorNet Financial Inc grew its stake in shares of CarMax by 86.9% during the 2nd quarter. AdvisorNet Financial Inc now owns 398 shares of the company’s stock worth $35,000 after acquiring an additional 185 shares during the period. Liberty Wealth Management LLC bought a new position in shares of CarMax during the 1st quarter worth $39,000. Hanson & Doremus Investment Management bought a new position in shares of CarMax during the 2nd quarter worth $51,000. FNY Investment Advisers LLC grew its stake in shares of CarMax by 6,633.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 588 shares of the company’s stock worth $51,000 after acquiring an additional 597 shares during the period. Finally, Carroll Financial Associates Inc. grew its stake in shares of CarMax by 181.1% during the 2nd quarter. Carroll Financial Associates Inc. now owns 759 shares of the company’s stock worth $65,000 after acquiring an additional 489 shares during the period.
In other CarMax news, COO Edwin J. Hill sold 4,792 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $87.49, for a total value of $419,252.08. Following the sale, the chief operating officer now owns 3,778 shares of the company’s stock, valued at approximately $330,537.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William D. Nash sold 86,762 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $83.53, for a total value of $7,247,229.86. Following the completion of the sale, the chief executive officer now directly owns 173,546 shares in the company, valued at approximately $14,496,297.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 377,047 shares of company stock worth $31,898,938. Insiders own 2.09% of the company’s stock.
Several research analysts have recently weighed in on KMX shares. Oppenheimer increased their price target on CarMax from $88.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Buckingham Research cut CarMax from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $81.00 to $94.00 in a report on Monday, June 24th. They noted that the move was a valuation call. Morgan Stanley increased their price objective on CarMax from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Royal Bank of Canada increased their price objective on CarMax from $86.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, June 19th. Finally, Credit Suisse Group set a $90.00 price objective on CarMax and gave the stock an “outperform” rating in a report on Monday, June 17th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $93.81.
KMX traded up $0.27 during trading on Thursday, reaching $84.02. 28,007 shares of the company were exchanged, compared to its average volume of 1,552,198. The company has a 50-day simple moving average of $86.92. The stock has a market cap of $13.90 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. The company has a debt-to-equity ratio of 4.20, a quick ratio of 0.49 and a current ratio of 2.21. CarMax, Inc has a 12-month low of $55.24 and a 12-month high of $92.01.
CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, June 21st. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.10. CarMax had a return on equity of 25.37% and a net margin of 4.64%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter last year, the firm posted $1.33 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Equities analysts predict that CarMax, Inc will post 5.26 earnings per share for the current year.
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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