Primecap Management Co. CA Sells 110,235 Shares of CarMax, Inc. (NYSE:KMX)

Primecap Management Co. CA cut its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 2.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,411,784 shares of the company's stock after selling 110,235 shares during the quarter. Primecap Management Co. CA owned 3.47% of CarMax worth $396,900,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Baker Tilly Wealth Management LLC lifted its holdings in shares of CarMax by 4.6% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company's stock valued at $217,000 after buying an additional 130 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of CarMax by 6.5% during the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company's stock valued at $188,000 after buying an additional 131 shares during the last quarter. Peoples Bank KS lifted its holdings in shares of CarMax by 10.0% during 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 last quarter. Allegheny Financial Group LTD lifted its holdings 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, Chicago Partners Investment Group LLC raised its stake in shares of CarMax by 3.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,010 shares of the company's stock valued at $461,000 after acquiring an additional 174 shares in the last quarter.

Analysts Set New Price Targets

KMX has been the topic of a number of recent analyst reports. Oppenheimer reissued an "outperform" rating and issued a $105.00 price objective on shares of CarMax in a research note on Monday, June 24th. Morgan Stanley reissued an "overweight" rating and issued a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Mizuho cut 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. StockNews.com raised CarMax to a "sell" rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada raised their price objective on CarMax from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, June 24th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $76.25.

Insider Activity at CarMax

In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the business's stock in a transaction on Tuesday, July 23rd. The stock was 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the business's stock in a transaction on Tuesday, July 23rd. The stock was 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the business'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 directly owns 995 shares in the company, valued at approximately $72,097.70. The disclosure for this sale can be found here. Insiders have sold a total of 185,243 shares of company stock valued at $14,893,042 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

CarMax Price Performance

KMX stock traded up $0.35 during trading on Tuesday, hitting $79.39. The company had a trading volume of 1,628,731 shares, compared to its average volume of 1,891,311. The company has a fifty day moving average price of $80.26 and a two-hundred day moving average price of $76.53. 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 company has a market cap of $12.39 billion, a P/E ratio of 31.01, a P/E/G ratio of 1.53 and a beta of 1.69. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 return on equity of 6.64% and a net margin of 1.55%. CarMax's quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 EPS. Equities research analysts expect 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.