CarMax Inc (KMX) Position Lowered by Cigna Investments Inc. New
Cigna Investments Inc. New lowered its position in shares of CarMax Inc (NYSE:KMX) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 7,217 shares of the company’s stock after selling 503 shares during the period. Cigna Investments Inc. New’s holdings in CarMax were worth $455,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of KMX. Korea Investment CORP boosted its stake in CarMax by 140.5% in the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after buying an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in CarMax during the second quarter worth approximately $112,000. First Bank & Trust boosted its stake in CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock worth $123,000 after buying an additional 138 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock worth $124,000 after buying an additional 49 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in CarMax by 7.3% in the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after buying an additional 169 shares during the last quarter.
CarMax Inc (KMX) opened at 64.82 on Thursday. The company has a market capitalization of $11.88 billion, a P/E ratio of 18.62 and a beta of 1.34. CarMax Inc has a 52-week low of $47.50 and a 52-week high of $69.11. The firm has a 50-day moving average of $64.82 and a 200 day moving average of $62.70.
CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.15. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. CarMax’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities analysts predict that CarMax Inc will post $3.70 earnings per share for the current fiscal year.
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A number of research firms have recently commented on KMX. Deutsche Bank AG cut their price target on shares of CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Oppenheimer Holdings, Inc. set a $72.00 price target on shares of CarMax and gave the company a “buy” rating in a report on Friday, April 21st. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a report on Wednesday. UBS AG cut shares of CarMax from a “positive” rating to a “neutral” rating in a report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $74.00 price target (up previously from $72.00) on shares of CarMax in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $69.15.
In other news, Director Thomas J. Folliard sold 50,000 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $61.41, for a total value of $3,070,500.00. Following the sale, the director now directly owns 509,166 shares of the company’s stock, valued at approximately $31,267,884.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric M. Margolin sold 18,659 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $64.06, for a total transaction of $1,195,295.54. Following the completion of the sale, the executive vice president now directly owns 47,163 shares in the company, valued at $3,021,261.78. The disclosure for this sale can be found here. Insiders sold a total of 188,515 shares of company stock worth $12,085,019 over the last ninety days. Insiders own 1.70% of the company’s stock.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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