Pettyjohn Wood & White Inc. lowered its stake in CarMax, Inc (NYSE:KMX) by 1.9% during the 2nd quarter, Holdings Channel reports. The firm owned 24,060 shares of the company’s stock after selling 475 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in CarMax were worth $2,089,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Wetherby Asset Management Inc. lifted its stake in CarMax by 3.6% in the 2nd quarter. Wetherby Asset Management Inc. now owns 3,366 shares of the company’s stock worth $292,000 after purchasing an additional 118 shares in the last quarter. Beacon Financial Group lifted its stake in CarMax by 2.3% in the 2nd quarter. Beacon Financial Group now owns 5,386 shares of the company’s stock worth $468,000 after purchasing an additional 119 shares in the last quarter. First National Bank of South Miami lifted its stake in CarMax by 4.4% in the 1st quarter. First National Bank of South Miami now owns 3,267 shares of the company’s stock worth $228,000 after purchasing an additional 138 shares in the last quarter. First Trust Advisors LP lifted its stake in CarMax by 0.3% in the 1st quarter. First Trust Advisors LP now owns 65,476 shares of the company’s stock worth $4,570,000 after purchasing an additional 167 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in shares of CarMax by 4.8% during the 2nd quarter. Ballentine Partners LLC now owns 3,818 shares of the company’s stock valued at $332,000 after buying an additional 175 shares in the last quarter.

KMX has been the topic of several recent research reports. Argus initiated coverage on shares of CarMax in a research report on Friday, June 28th. They set a “buy” rating and a $100.00 target price on the stock. Robert W. Baird upped their target price on shares of CarMax from $80.00 to $99.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Oppenheimer upped their target price on shares of CarMax from $88.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Royal Bank of Canada upped their target price on shares of CarMax from $86.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, June 19th. Finally, Bank of America upped their target price on shares of CarMax from $95.00 to $112.00 in a research report on Monday, June 24th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $93.81.

In related news, CFO Thomas W. Reedy, Jr. sold 77,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $83.20, for a total transaction of $6,406,400.00. Following the transaction, the chief financial officer now directly owns 138,520 shares in the company, valued at approximately $11,524,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Nash sold 86,762 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $83.53, for a total transaction of $7,247,229.86. Following the transaction, the chief executive officer now owns 173,546 shares in the company, valued at $14,496,297.38. The disclosure for this sale can be found here. Insiders have sold a total of 377,047 shares of company stock worth $31,898,938 over the last quarter. 2.09% of the stock is currently owned by insiders.

NYSE:KMX traded up $0.78 during mid-day trading on Friday, hitting $85.03. 1,064,500 shares of the stock traded hands, compared to its average volume of 1,405,605. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.27 and a beta of 1.20. CarMax, Inc has a 52 week low of $55.24 and a 52 week high of $92.01. The firm’s 50 day moving average is $86.87 and its two-hundred day moving average is $75.22. The company has a quick ratio of 0.49, a current ratio of 2.21 and a debt-to-equity ratio of 4.20.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 21st. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.49 by $0.10. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.17 billion. CarMax had a net margin of 4.64% and a return on equity of 25.37%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. As a group, research analysts predict that CarMax, Inc will post 5.26 EPS for the current year.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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