CarMax, Inc. (NYSE:KMX) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lessened its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 870,343 shares of the company's stock after selling 19,746 shares during the period. Welch & Forbes LLC owned 0.57% of CarMax worth $71,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its position in shares of CarMax by 2,883.1% during the third quarter. FMR LLC now owns 1,772,808 shares of the company's stock worth $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Holocene Advisors LP grew its holdings in CarMax by 740.2% during the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company's stock valued at $73,274,000 after buying an additional 834,232 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in CarMax by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company's stock valued at $114,471,000 after buying an additional 436,342 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of CarMax in the fourth quarter worth $31,061,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of CarMax by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock worth $702,425,000 after buying an additional 282,519 shares in the last quarter.

Analysts Set New Price Targets

KMX has been the topic of a number of research reports. Royal Bank of Canada lifted their price target on shares of CarMax from $92.00 to $99.00 and gave the company an "overweight" rating in a report on Thursday, December 19th. Mizuho raised their price objective on CarMax from $72.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, December 20th. Evercore ISI decreased their target price on CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a research report on Tuesday. Truist Financial raised their price target on CarMax from $72.00 to $88.00 and gave the company a "hold" rating in a report on Friday, December 20th. Finally, Needham & Company LLC lifted their price objective on CarMax from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $90.45.

Remove Ads

Insiders Place Their Bets

In related news, SVP Jon G. Daniels sold 30,245 shares of the business's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $84.34, for a total transaction of $2,550,863.30. Following the transaction, the senior vice president now directly owns 995 shares in the company, valued at approximately $83,918.30. The trade was a 96.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now directly owns 9,448 shares of the company's stock, valued at approximately $765,288. This represents a 57.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,467 shares of company stock worth $21,915,445. Company insiders own 1.66% of the company's stock.

CarMax Stock Performance

Shares of KMX traded down $1.11 during trading hours on Tuesday, reaching $72.89. 2,484,933 shares of the company traded hands, compared to its average volume of 1,874,900. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The business has a fifty day moving average price of $82.58 and a 200-day moving average price of $80.29. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. The stock has a market capitalization of $11.21 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.67 and a beta of 1.76.

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

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.