Bank of New York Mellon Corp cut its position in shares of CarMax Inc (NYSE:KMX) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,400,653 shares of the company’s stock after selling 110,068 shares during the period. Bank of New York Mellon Corp owned 0.76% of CarMax worth $88,326,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of CarMax by 1.4% in the first quarter. Vanguard Group Inc. now owns 17,805,146 shares of the company’s stock worth $1,054,422,000 after buying an additional 247,809 shares in the last quarter. BlackRock Inc. increased its position in shares of CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock worth $656,668,000 after buying an additional 10,752,554 shares in the last quarter. Broad Run Investment Management LLC increased its position in shares of CarMax by 2.9% in the first quarter. Broad Run Investment Management LLC now owns 3,347,395 shares of the company’s stock worth $198,233,000 after buying an additional 93,933 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CarMax by 7.9% in the first quarter. Geode Capital Management LLC now owns 1,767,668 shares of the company’s stock worth $104,528,000 after buying an additional 128,732 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of CarMax by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,160,141 shares of the company’s stock worth $68,707,000 after buying an additional 50,441 shares in the last quarter.

CarMax Inc (NYSE:KMX) opened at 64.39 on Friday. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 18.49 and a beta of 1.34. CarMax Inc has a one year low of $47.50 and a one year high of $69.11. The firm’s 50-day moving average is $64.97 and its 200 day moving average is $62.64.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.15. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts forecast that CarMax Inc will post $3.71 EPS for the current fiscal year.

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A number of equities analysts have recently commented on KMX shares. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Wedbush raised shares of CarMax from a “neutral” rating to an “outperform” rating and raised their price target for the company from $60.00 to $70.00 in a report on Thursday, May 18th. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, July 11th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $70.00 price target (up from $66.00) on shares of CarMax in a report on Thursday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a “market perform” rating and set a $63.00 price target (down from $71.00) on shares of CarMax in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. CarMax presently has a consensus rating of “Buy” and a consensus price target of $69.15.

In other CarMax news, EVP Edwin J. Hill sold 35,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total transaction of $2,270,800.00. Following the completion of the sale, the executive vice president now owns 39,792 shares of the company’s stock, valued at approximately $2,581,704.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Folliard sold 50,000 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold a total of 188,515 shares of company stock valued at $12,085,019 in the last ninety days. Insiders own 1.70% of the company’s stock.

About CarMax

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.

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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