Wealthspire Advisors LLC Cuts Holdings in CarMax, Inc. (NYSE:KMX)

Wealthspire Advisors LLC decreased its stake in shares of CarMax, Inc. (NYSE:KMX) by 44.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,211 shares of the company’s stock after selling 1,746 shares during the quarter. Wealthspire Advisors LLC’s holdings in CarMax were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in shares of CarMax by 113.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,376,238 shares of the company’s stock worth $436,041,000 after acquiring an additional 1,795,132 shares in the last quarter. Blair William & Co. IL boosted its position in shares of CarMax by 47.9% in the 1st quarter. Blair William & Co. IL now owns 1,851,658 shares of the company’s stock valued at $245,641,000 after purchasing an additional 599,915 shares during the period. JPMorgan Chase & Co. boosted its position in shares of CarMax by 20.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,092,920 shares of the company’s stock valued at $399,451,000 after purchasing an additional 527,732 shares during the period. Caledonia Private Investments Pty Ltd lifted its position in CarMax by 27.7% during the 1st quarter. Caledonia Private Investments Pty Ltd now owns 1,886,134 shares of the company’s stock worth $250,215,000 after acquiring an additional 409,566 shares during the period. Finally, Marathon Asset Management LLP raised its stake in shares of CarMax by 45.5% during the 2nd quarter. Marathon Asset Management LLP now owns 1,069,676 shares of the company’s stock worth $138,149,000 after buying an additional 334,396 shares in the last quarter. Institutional investors own 95.40% of the company’s stock.

In other news, Director Ronald E. Blaylock sold 12,500 shares of the firm’s stock in a transaction on Friday, July 16th. The stock was sold at an average price of $132.02, for a total transaction of $1,650,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO James Lyski sold 63,129 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $139.54, for a total value of $8,809,020.66. Following the sale, the chief marketing officer now owns 79,084 shares in the company, valued at approximately $11,035,381.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,063 shares of company stock worth $13,502,218. 1.76% of the stock is owned by insiders.

A number of brokerages have recently issued reports on KMX. Wolfe Research raised CarMax to a “buy” rating and set a $160.00 target price for the company in a research note on Friday, October 1st. Stephens increased their target price on CarMax from $154.00 to $163.00 and gave the stock an “overweight” rating in a research note on Monday, June 28th. JPMorgan Chase & Co. increased their target price on CarMax from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, June 28th. Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating and set a $147.00 target price for the company. in a research note on Monday, September 20th. Finally, Robert W. Baird raised their price objective on CarMax from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, October 1st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, CarMax has an average rating of “Buy” and a consensus target price of $147.46.

Shares of NYSE:KMX opened at $133.35 on Thursday. The business’s fifty day moving average price is $131.74 and its two-hundred day moving average price is $128.46. The stock has a market cap of $21.62 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.61. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.69 and a current ratio of 2.24. CarMax, Inc. has a one year low of $84.70 and a one year high of $147.73.

CarMax (NYSE:KMX) last announced its earnings results on Wednesday, September 29th. The company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.23). The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $6.91 billion. CarMax had a net margin of 5.03% and a return on equity of 27.44%. CarMax’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.79 EPS. As a group, equities research analysts predict that CarMax, Inc. will post 7.49 earnings per share for the current fiscal year.

About CarMax

CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operator. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment comprises of all aspects of its auto merchandising and service operations.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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