CarMax, Inc. (NYSE:KMX) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,958 shares of the company's stock after selling 9,487 shares during the period. Truist Financial Corp's holdings in CarMax were worth $6,047,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company's stock valued at $137,180,000 after buying an additional 1,713,379 shares during the period. Holocene Advisors LP grew its holdings in shares of CarMax by 740.2% in the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company's stock valued at $73,274,000 after acquiring an additional 834,232 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company's stock worth $114,471,000 after acquiring an additional 436,342 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock valued at $702,425,000 after buying an additional 282,519 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of CarMax during the 3rd quarter worth about $6,942,000.

CarMax Trading Up 0.3 %

KMX stock traded up $0.23 during midday trading on Wednesday, reaching $83.19. The company's stock had a trading volume of 624,542 shares, compared to its average volume of 1,537,963. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.67 and a beta of 1.72. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The stock has a fifty day simple moving average of $83.32 and a two-hundred day simple moving average of $80.25.

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CarMax (NYSE:KMX - Get Free Report) last issued its earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same period last year, the company posted $0.52 earnings per share. The company's quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KMX shares. Mizuho lifted their price target on shares of CarMax from $72.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, December 20th. Stephens began coverage on CarMax in a research report on Thursday, December 5th. They issued an "equal weight" rating and a $86.00 target price for the company. Evercore ISI upgraded shares of CarMax from an "in-line" rating to an "outperform" rating and increased their target price for the company from $90.00 to $110.00 in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on CarMax from $70.00 to $72.00 and gave the stock an "underweight" rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada upped their price objective on shares of CarMax from $92.00 to $99.00 and gave the company an "overweight" rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, CarMax currently has a consensus rating of "Hold" and an average target price of $87.50.

Insider Activity at CarMax

In other CarMax news, EVP Mohammad Shamim sold 10,000 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.77, for a total transaction of $837,700.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $983,292.26. The trade was a 46.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the transaction, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,467 shares of company stock worth $21,915,445 over the last quarter. Insiders own 1.66% of the company's stock.

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.