Ninety One UK Ltd Sells 19,710 Shares of CarMax, Inc. (NYSE:KMX)

Ninety One UK Ltd reduced its holdings in shares of CarMax, Inc. (NYSE:KMX) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 280,163 shares of the company’s stock after selling 19,710 shares during the period. Ninety One UK Ltd’s holdings in CarMax were worth $20,547,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KMX. Vanguard Group Inc. boosted its stake in shares of CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after purchasing an additional 222,132 shares in the last quarter. Norges Bank bought a new stake in CarMax in the fourth quarter worth $288,278,000. Morningstar Investment Services LLC boosted its position in CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after buying an additional 1,326,840 shares during the period. First Pacific Advisors LP grew its stake in shares of CarMax by 0.3% during the first quarter. First Pacific Advisors LP now owns 2,339,026 shares of the company’s stock valued at $203,753,000 after buying an additional 7,481 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of CarMax by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,930,606 shares of the company’s stock worth $148,168,000 after buying an additional 164,024 shares during the period.

Insider Transactions at CarMax

In other news, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the sale, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following 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. In the last quarter, insiders sold 185,243 shares of company stock valued at $14,893,042. Corporate insiders own 1.66% of the company’s stock.

CarMax Trading Down 0.8 %

NYSE KMX traded down $0.61 during trading on Tuesday, hitting $79.70. The company had a trading volume of 139,720 shares, compared to its average volume of 1,946,139. The company’s fifty day moving average is $76.35 and its 200-day moving average is $75.39. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 1.66 and a beta of 1.69.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $7.16 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. CarMax’s quarterly revenue was down 7.5% on a year-over-year basis. On average, sell-side analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KMX has been the subject of several analyst reports. StockNews.com upgraded CarMax to a “sell” rating in a report on Friday, July 26th. Argus raised CarMax to a “hold” rating in a research note on Tuesday, June 25th. Royal Bank of Canada lifted their target price on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Evercore ISI increased their price target on shares of CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Finally, Truist Financial raised their price target on shares of CarMax from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.25.

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.