CarMax, Inc. (NYSE:KMX) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,370 shares of the company's stock after selling 68,783 shares during the period. Raymond James & Associates owned 0.15% of CarMax worth $17,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. First Community Trust NA bought a new position in shares of CarMax during the second quarter valued at approximately $29,000. Blue Trust Inc. grew its stake in CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company's stock worth $37,000 after purchasing an additional 287 shares in the last quarter. Lindbrook Capital LLC grew its stake in CarMax by 32.8% in the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company's stock worth $48,000 after purchasing an additional 155 shares in the last quarter. Headlands Technologies LLC bought a new position in CarMax in the first quarter worth approximately $55,000. Finally, Federated Hermes Inc. bought a new position in CarMax in the fourth quarter worth approximately $62,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KMX. Mizuho dropped their price objective on CarMax from $75.00 to $72.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 18th. Needham & Company LLC dropped their price objective on CarMax from $91.00 to $87.00 and set a "buy" rating on the stock in a research note on Monday, June 24th. Evercore ISI increased their price objective on CarMax from $68.00 to $72.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 16th. Royal Bank of Canada increased their price objective on CarMax from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, June 24th. Finally, Truist Financial upped their target price on CarMax from $66.00 to $70.00 and gave the stock a "hold" rating in a report on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $76.25.

CarMax Stock Up 4.4 %

Shares of KMX traded up $3.65 during midday trading on Friday, hitting $85.78. 1,634,879 shares of the company's stock traded hands, compared to its average volume of 1,935,110. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The firm's fifty day moving average is $77.05 and its 200-day moving average is $75.54. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.69.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The business's revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current year.

Insider Activity

In related news, SVP Jon G. Daniels sold 1,231 shares of the firm's stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William D. Nash sold 120,000 shares of the firm's stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jon G. Daniels sold 1,231 shares of the firm's stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares of the company's stock, valued at approximately $72,097.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,243 shares of company stock worth $14,893,042. Insiders own 1.66% of the company's stock.

CarMax Profile

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.