Bank of New York Mellon Corp Has $71.31 Million Holdings in CarMax, Inc. (NYSE:KMX)

Bank of New York Mellon Corp boosted its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 972,307 shares of the company's stock after purchasing an additional 5,012 shares during the period. Bank of New York Mellon Corp owned about 0.62% of CarMax worth $71,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KMX. Norges Bank acquired a new position in CarMax during the fourth quarter valued at $288,278,000. Morningstar Investment Services LLC increased its holdings in CarMax by 95.4% in the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company's stock valued at $211,516,000 after buying an additional 1,326,840 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in CarMax by 1,327.3% in the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company's stock valued at $89,070,000 after buying an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in CarMax by 3,094.0% in the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company's stock valued at $51,949,000 after buying an additional 577,685 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in CarMax by 5,711.9% in the fourth quarter. Verition Fund Management LLC now owns 427,176 shares of the company's stock valued at $32,781,000 after buying an additional 419,826 shares in the last quarter.

Insider Buying and Selling

In related news, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares in the company, valued at approximately $1,249,032.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Jon G. Daniels sold 1,231 shares of the firm's stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Charles Joseph Wilson sold 10,021 shares of the firm's stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares of the company's stock, valued at approximately $1,249,032.18. The disclosure for this sale can be found here. Insiders sold a total of 185,243 shares of company stock worth $14,893,042 in the last 90 days. Company insiders own 1.66% of the company's stock.

Analyst Upgrades and Downgrades

KMX has been the subject of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of CarMax from $68.00 to $72.00 and gave the company an "in-line" rating in a report on Tuesday, July 16th. Argus upgraded shares of CarMax to a "hold" rating in a report on Tuesday, June 25th. Morgan Stanley restated an "overweight" rating and issued a $80.00 price objective on shares of CarMax in a report on Friday, June 21st. Truist Financial increased their target price on shares of CarMax from $66.00 to $70.00 and gave the stock a "hold" rating in a report on Monday, June 24th. Finally, StockNews.com upgraded shares of CarMax to a "sell" rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $76.25.

CarMax Stock Performance

NYSE:KMX traded down $0.76 during mid-day trading on Friday, reaching $84.55. 1,163,157 shares of the stock were exchanged, compared to its average volume of 1,914,453. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The company has a 50 day simple moving average of $78.44 and a 200-day simple moving average of $75.97. The stock has a market capitalization of $13.20 billion, a P/E ratio of 33.03, a P/E/G ratio of 1.66 and a beta of 1.69.

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

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.