SG Americas Securities LLC Reduces Holdings in CarMax, Inc. $KMX

SG Americas Securities LLC decreased its stake in shares of CarMax, Inc. (NYSE:KMX) by 37.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,471 shares of the company’s stock after selling 66,283 shares during the period. SG Americas Securities LLC’s holdings in CarMax were worth $4,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KMX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after buying an additional 173 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after acquiring an additional 161 shares during the period. Empowered Funds LLC grew its holdings in shares of CarMax by 12.5% during the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after acquiring an additional 585 shares during the period. Intech Investment Management LLC raised its position in shares of CarMax by 61.7% in the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after acquiring an additional 7,307 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of CarMax in the 1st quarter worth approximately $727,000.

Insider Buying and Selling at CarMax

In related news, CEO Keith Barr purchased 9,400 shares of CarMax stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the acquisition, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sona Chawla purchased 2,000 shares of CarMax stock in a transaction dated Thursday, June 25th. The shares were bought at an average price of $53.39 per share, with a total value of $106,780.00. Following the completion of the acquisition, the director directly owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This represents a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 13,900 shares of company stock worth $735,574. 1.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on KMX shares. Argus upgraded CarMax to a “hold” rating in a research note on Thursday, April 16th. Mizuho increased their price objective on CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Royal Bank Of Canada increased their price objective on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. raised their price objective on CarMax from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday, June 18th. Finally, Truist Financial boosted their target price on shares of CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, CarMax has a consensus rating of “Reduce” and a consensus target price of $47.73.

CarMax Price Performance

KMX stock opened at $53.15 on Tuesday. The firm has a 50 day moving average price of $43.74 and a 200-day moving average price of $43.23. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $71.99. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 1.77 and a beta of 1.21. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 EPS. Equities research analysts forecast that CarMax, Inc. will post 2.6 EPS for the current fiscal year.

CarMax Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.