Inlet Private Wealth LLC Cuts Holdings in CarMax, Inc. (NYSE:KMX)

Inlet Private Wealth LLC decreased its holdings in CarMax, Inc. (NYSE:KMX) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,230 shares of the company’s stock after selling 400 shares during the period. Inlet Private Wealth LLC’s holdings in CarMax were worth $4,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its stake in CarMax by 29.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after acquiring an additional 37,660 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in CarMax by 10.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock worth $16,238,000 after purchasing an additional 17,557 shares during the last quarter. Van ECK Associates Corp grew its position in CarMax by 38.2% in the 1st quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock worth $4,861,000 after purchasing an additional 15,426 shares during the period. Swedbank AB bought a new stake in CarMax in the 1st quarter worth approximately $1,406,000. Finally, SG Americas Securities LLC raised its stake in CarMax by 7.9% during the 1st quarter. SG Americas Securities LLC now owns 22,939 shares of the company’s stock valued at $1,998,000 after buying an additional 1,688 shares during the last quarter.

Insider Buying and Selling at CarMax

In other news, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $965,567.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares of the company’s stock, valued at $1,249,032.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.66% of the company’s stock.

CarMax Price Performance

CarMax stock traded down $0.19 during mid-day trading on Thursday, hitting $74.62. The stock had a trading volume of 343,682 shares, compared to its average volume of 1,935,117. 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 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $11.65 billion, a P/E ratio of 29.22, a P/E/G ratio of 1.46 and a beta of 1.68. The firm’s 50 day moving average is $78.05 and its 200 day moving average is $75.39.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 EPS. On average, sell-side analysts forecast that CarMax, Inc. will post 2.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on KMX. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a report on Friday, October 4th. Evercore ISI upped their price target on shares of CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of CarMax in a research report on Wednesday. Finally, BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, CarMax currently has a consensus rating of “Hold” and an average price target of $79.73.

About CarMax

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.