Taylor Hoffman Wealth Management Lowers Holdings in CarMax, Inc. (NYSE:KMX)

Taylor Hoffman Wealth Management lowered its stake in shares of CarMax, Inc. (NYSE:KMX) by 17.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,209 shares of the company’s stock after selling 1,075 shares during the period. Taylor Hoffman Wealth Management’s holdings in CarMax were worth $400,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of KMX. ProVise Management Group LLC increased its holdings in CarMax by 31.5% in the third quarter. ProVise Management Group LLC now owns 58,701 shares of the company’s stock valued at $4,152,000 after buying an additional 14,052 shares in the last quarter. Montag A & Associates Inc. raised its holdings in CarMax by 61.6% in the 3rd quarter. Montag A & Associates Inc. now owns 49,985 shares of the company’s stock worth $3,535,000 after purchasing an additional 19,056 shares during the period. Charles Schwab Investment Management Inc. boosted its position in CarMax by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company’s stock worth $76,058,000 after purchasing an additional 30,107 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in CarMax by 8.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 235,544 shares of the company’s stock valued at $18,076,000 after purchasing an additional 18,914 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of CarMax by 6.9% in the third quarter. Corient Private Wealth LLC now owns 934,259 shares of the company’s stock valued at $66,080,000 after buying an additional 60,604 shares in the last quarter.

Insider Transactions at CarMax

In related news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at $485,110.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.66% of the company’s stock.

CarMax Trading Down 0.2 %

NYSE:KMX traded down $0.16 during trading hours on Friday, hitting $72.82. The company had a trading volume of 1,725,666 shares, compared to its average volume of 2,050,203. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The company has a market cap of $11.46 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.36 and a beta of 1.64. The company has a 50-day moving average of $76.31 and a 200 day moving average of $72.76. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts expect that CarMax, Inc. will post 3.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KMX. 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 note on Monday, April 15th. Needham & Company LLC dropped their target price on shares of CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. StockNews.com upgraded shares of CarMax to a “sell” rating in a research report on Monday, April 22nd. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of CarMax in a report on Thursday. Finally, Mizuho reduced their target price on CarMax from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $77.42.

CarMax Company Profile

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.