Cary Street Partners Asset Management LLC Decreases Stock Holdings in CarMax, Inc. (NYSE:KMX)

Cary Street Partners Asset Management LLC lowered its position in shares of CarMax, Inc. (NYSE:KMX) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,439 shares of the company’s stock after selling 425 shares during the period. Cary Street Partners Asset Management LLC’s holdings in CarMax were worth $878,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KMX. Allworth Financial LP lifted its stake in CarMax by 153.3% in the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after buying an additional 207 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in CarMax by 1,081.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock worth $34,000 after buying an additional 400 shares in the last quarter. Mendota Financial Group LLC purchased a new stake in CarMax in the 4th quarter worth approximately $37,000. MCF Advisors LLC acquired a new position in shares of CarMax during the 4th quarter valued at about $46,000. Finally, Lindbrook Capital LLC raised its holdings in shares of CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after purchasing an additional 155 shares during the period.

Insider Buying and Selling at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.66% of the company’s stock.

CarMax Stock Performance

NYSE:KMX opened at $67.21 on Thursday. The firm’s 50-day moving average is $77.88 and its 200-day moving average is $72.14. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.13 and a beta of 1.64. CarMax, Inc. has a 52-week low of $59.66 and a 52-week high of $88.22.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts anticipate that CarMax, Inc. will post 3.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KMX. Royal Bank of Canada reiterated an “outperform” rating and set a $83.00 price objective on shares of CarMax in a research note on Monday, April 8th. JPMorgan Chase & Co. dropped their price target on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Monday, April 15th. Truist Financial cut their target price on shares of CarMax from $75.00 to $72.00 and set a “hold” rating on the stock in a research note on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a report on Tuesday, April 9th. Finally, Evercore ISI dropped their price target on shares of CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.42.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.