CarMax Inc (KMX) Position Cut by Capco Asset Management LLC
Capco Asset Management LLC cut its stake in shares of CarMax Inc (NYSE:KMX) by 9.6% during the second quarter, Holdings Channel reports. The fund owned 27,717 shares of the company’s stock after selling 2,935 shares during the period. CarMax accounts for about 1.5% of Capco Asset Management LLC’s portfolio, making the stock its 12th largest position. Capco Asset Management LLC’s holdings in CarMax were worth $1,748,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its position in CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock valued at $124,000 after buying an additional 49 shares during the last quarter. Flinton Capital Management LLC raised its position in CarMax by 1.2% in the first quarter. Flinton Capital Management LLC now owns 5,232 shares of the company’s stock valued at $310,000 after buying an additional 64 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in CarMax by 1.2% in the first quarter. Meadow Creek Investment Management LLC now owns 7,194 shares of the company’s stock valued at $426,000 after buying an additional 88 shares during the last quarter. Osborne Partners Capital Management LLC raised its position in CarMax by 0.5% in the second quarter. Osborne Partners Capital Management LLC now owns 18,565 shares of the company’s stock valued at $1,171,000 after buying an additional 90 shares during the last quarter. Finally, Argent Trust Co raised its position in CarMax by 1.7% in the first quarter. Argent Trust Co now owns 5,485 shares of the company’s stock valued at $325,000 after buying an additional 91 shares during the last quarter.
Shares of CarMax Inc (NYSE KMX) opened at 64.46 on Wednesday. The company’s 50-day moving average is $64.77 and its 200 day moving average is $62.69. CarMax Inc has a 52 week low of $47.50 and a 52 week high of $69.11. The stock has a market capitalization of $11.81 billion, a P/E ratio of 18.51 and a beta of 1.34.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. On average, equities analysts forecast that CarMax Inc will post $3.70 EPS for the current fiscal year.
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Several equities analysts have weighed in on the stock. UBS AG lowered shares of CarMax from a “positive” rating to a “neutral” rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $74.00 target price (up from $72.00) on shares of CarMax in a report on Thursday, June 22nd. Deutsche Bank AG decreased their target price on shares of CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Royal Bank Of Canada reiterated a “market perform” rating and issued a $63.00 target price (down from $71.00) on shares of CarMax in a report on Tuesday, July 4th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $70.00 target price (up from $66.00) on shares of CarMax in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $69.00.
In related news, EVP Edwin J. Hill sold 35,000 shares of CarMax stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $64.88, for a total value of $2,270,800.00. Following the completion of the sale, the executive vice president now owns 39,792 shares in the company, valued at $2,581,704.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas W. Reedy, Jr. sold 8,583 shares of CarMax stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $66.87, for a total transaction of $573,945.21. Following the completion of the sale, the chief financial officer now owns 70,522 shares of the company’s stock, valued at approximately $4,715,806.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,515 shares of company stock valued at $12,085,019. Insiders own 1.90% of the company’s stock.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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