Insider Selling: CarMax Inc (KMX) CEO Sells $7,423,549.70 in Stock
CarMax Inc (NYSE:KMX) CEO William D. Nash sold 100,522 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $73.85, for a total value of $7,423,549.70. Following the completion of the transaction, the chief executive officer now directly owns 62,902 shares in the company, valued at $4,645,312.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of CarMax Inc (NYSE KMX) opened at 75.81 on Friday. The company has a 50-day moving average price of $66.11 and a 200-day moving average price of $62.70. CarMax Inc has a 52-week low of $47.50 and a 52-week high of $76.40. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 21.77 and a beta of 1.32.
CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, equities analysts anticipate that CarMax Inc will post $3.81 earnings per share for the current year.
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A number of brokerages have recently weighed in on KMX. Credit Suisse Group upped their target price on CarMax from $75.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, September 26th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $75.00 target price (up from $66.00) on shares of CarMax in a research report on Tuesday, September 26th. Citigroup Inc. upped their target price on CarMax to $84.00 and gave the stock a “buy” rating in a research report on Monday, September 25th. Finally, Goldman Sachs Group, Inc. (The) lowered CarMax from a “buy” rating to a “neutral” rating and upped their target price for the stock from $74.00 to $79.00 in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. CarMax has an average rating of “Buy” and an average target price of $77.57.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in CarMax by 2.1% during the second quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock valued at $1,146,758,000 after buying an additional 380,038 shares during the last quarter. BlackRock Inc. raised its stake in CarMax by 0.5% during the second quarter. BlackRock Inc. now owns 11,142,473 shares of the company’s stock valued at $702,643,000 after buying an additional 53,840 shares during the last quarter. Principal Financial Group Inc. raised its stake in CarMax by 8.3% during the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock valued at $578,702,000 after buying an additional 706,369 shares during the last quarter. Broad Run Investment Management LLC raised its stake in CarMax by 0.9% during the second quarter. Broad Run Investment Management LLC now owns 3,377,241 shares of the company’s stock valued at $212,969,000 after buying an additional 29,846 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in CarMax by 751.0% during the second quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock valued at $135,465,000 after buying an additional 1,895,763 shares during the last quarter.
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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