CarMax, Inc. (NYSE:KMX) Position Trimmed by Cooke & Bieler LP

Cooke & Bieler LP lowered its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 11.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,910,283 shares of the company's stock after selling 257,701 shares during the period. CarMax accounts for approximately 1.3% of Cooke & Bieler LP's holdings, making the stock its 29th biggest holding. Cooke & Bieler LP owned 1.22% of CarMax worth $140,100,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Baker Tilly Wealth Management LLC lifted its stake in CarMax by 4.6% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company's stock worth $217,000 after purchasing an additional 130 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of CarMax by 6.5% in the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company's stock worth $188,000 after buying an additional 131 shares during the last quarter. Peoples Bank KS boosted its holdings in shares of CarMax by 10.0% in the 2nd quarter. Peoples Bank KS now owns 1,479 shares of the company's stock valued at $108,000 after buying an additional 135 shares during the period. Allegheny Financial Group LTD grew its position in shares of CarMax by 4.1% during the 2nd quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company's stock valued at $264,000 after buying an additional 143 shares during the last quarter. Finally, Spire Wealth Management raised its stake in CarMax by 8.3% during the fourth quarter. Spire Wealth Management now owns 1,908 shares of the company's stock worth $146,000 after acquiring an additional 147 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on KMX shares. Wedbush restated an "outperform" rating and issued a $95.00 target price on shares of CarMax in a research note on Friday, August 16th. Royal Bank of Canada increased their target price on CarMax from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, June 24th. Evercore ISI boosted their price target 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. Morgan Stanley reiterated an "overweight" rating and issued a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Finally, StockNews.com raised shares of CarMax to a "sell" rating in a research note on Friday, July 26th. Three equities 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $76.25.

CarMax Price Performance

Shares of NYSE KMX traded down $1.18 during mid-day trading on Wednesday, reaching $81.85. 1,544,865 shares of the company traded hands, compared to its average volume of 1,907,265. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The firm has a market cap of $12.78 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.72 and a beta of 1.69. The stock has a fifty day simple moving average of $79.15 and a 200-day simple moving average of $76.22. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60.

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

Insider Buying and Selling at CarMax

In related news, COO Charles Joseph Wilson sold 10,021 shares of the business's 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 sale, the chief operating officer now directly owns 15,609 shares in the company, valued at approximately $1,249,032.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Jon G. Daniels sold 1,231 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now directly owns 15,609 shares in the company, valued at approximately $1,249,032.18. The disclosure for this sale can be found here. In the last three months, insiders sold 185,243 shares of company stock valued at $14,893,042. 1.66% of the stock is owned by insiders.

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.