BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 3,640 Shares of CarMax Inc (KMX)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in CarMax Inc (NYSE:KMX) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,238 shares of the company’s stock after selling 3,640 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CarMax were worth $5,438,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock valued at $656,668,000 after buying an additional 10,752,554 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in CarMax during the first quarter valued at approximately $47,370,000. Marathon Asset Management LLP increased its stake in CarMax by 68.5% in the second quarter. Marathon Asset Management LLP now owns 754,913 shares of the company’s stock valued at $47,605,000 after buying an additional 306,901 shares in the last quarter. Morgan Stanley increased its stake in CarMax by 156.4% in the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock valued at $27,019,000 after buying an additional 278,328 shares in the last quarter. Finally, SG Capital Management LLC acquired a new stake in CarMax during the second quarter valued at approximately $16,752,000.
CarMax Inc (NYSE:KMX) opened at 63.97 on Monday. CarMax Inc has a 1-year low of $47.50 and a 1-year high of $69.11. The company’s 50-day moving average is $64.93 and its 200 day moving average is $62.69. The firm has a market capitalization of $11.72 billion, a PE ratio of 18.37 and a beta of 1.34.
CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, June 21st. The company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.46 billion. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. On average, equities analysts expect that CarMax Inc will post $3.71 EPS for the current fiscal year.
KMX has been the subject of several recent research reports. Zacks Investment Research raised shares of CarMax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Wedbush raised shares of CarMax from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $70.00 in a research report on Thursday, May 18th. ValuEngine raised shares of CarMax from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. CIBC reissued a “buy” rating on shares of CarMax in a research report on Tuesday, July 4th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $73.00 target price (up from $71.00) on shares of CarMax in a research 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 issued a strong buy rating to the company’s stock. The company currently 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 business’s stock in a transaction dated 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 completion of the sale, the director now owns 509,166 shares of the company’s stock, valued at $31,267,884.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $66.87, for a total transaction of $573,945.21. Following the completion of the sale, the chief financial officer now directly owns 70,522 shares of the company’s stock, valued at approximately $4,715,806.14. The disclosure for this sale can be found here. In the last three months, insiders sold 188,515 shares of company stock valued at $12,085,019. 1.90% of the stock is currently owned by company insiders.
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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