Kestra Private Wealth Services LLC Sells 718 Shares of CarMax, Inc. (NYSE:KMX)

Kestra Private Wealth Services LLC lowered its stake in shares of CarMax, Inc. (NYSE:KMXGet Rating) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,390 shares of the company’s stock after selling 718 shares during the period. Kestra Private Wealth Services LLC’s holdings in CarMax were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Private Advisor Group LLC increased its position in CarMax by 54.3% during the 1st quarter. Private Advisor Group LLC now owns 20,311 shares of the company’s stock worth $1,960,000 after buying an additional 7,144 shares during the period. Swiss National Bank increased its position in CarMax by 13.4% during the 1st quarter. Swiss National Bank now owns 702,153 shares of the company’s stock worth $67,744,000 after buying an additional 82,800 shares during the period. Coldstream Capital Management Inc. bought a new position in CarMax during the 1st quarter worth $236,000. Stratos Wealth Partners LTD. increased its position in CarMax by 53.9% during the 1st quarter. Stratos Wealth Partners LTD. now owns 2,449 shares of the company’s stock worth $236,000 after buying an additional 858 shares during the period. Finally, Tobam increased its position in CarMax by 25.9% during the 1st quarter. Tobam now owns 699 shares of the company’s stock worth $67,000 after buying an additional 144 shares during the period. Institutional investors own 96.11% of the company’s stock.

Analysts Set New Price Targets

KMX has been the topic of several analyst reports. Morgan Stanley reduced their target price on CarMax from $140.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Bank of America lowered CarMax from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $146.00 to $100.00 in a report on Friday, September 9th. Royal Bank of Canada raised their price objective on CarMax from $104.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, June 27th. JPMorgan Chase & Co. reduced their price objective on CarMax from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, September 9th. Finally, Wedbush raised their price objective on CarMax from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, June 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.56.

CarMax Stock Performance

Shares of KMX stock opened at $86.18 on Tuesday. The firm has a 50-day moving average of $93.54 and a 200-day moving average of $94.75. The company has a market cap of $13.72 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.35 and a beta of 1.40. The company has a debt-to-equity ratio of 3.29, a current ratio of 2.72 and a quick ratio of 0.63. CarMax, Inc. has a one year low of $83.07 and a one year high of $155.98.

CarMax (NYSE:KMXGet Rating) last announced its earnings results on Friday, June 24th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.51 by $0.05. The company had revenue of $9.31 billion during the quarter, compared to the consensus estimate of $9.38 billion. CarMax had a net margin of 2.88% and a return on equity of 18.40%. During the same quarter in the prior year, the company posted $2.63 earnings per share. Equities research analysts forecast that CarMax, Inc. will post 5.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Diane L. Cafritz sold 18,092 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $91.06, for a total transaction of $1,647,457.52. Following the completion of the sale, the executive vice president now owns 4,988 shares in the company, valued at $454,207.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Diane L. Cafritz sold 18,092 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $91.06, for a total value of $1,647,457.52. Following the sale, the executive vice president now owns 4,988 shares in the company, valued at $454,207.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane L. Cafritz sold 15,555 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $94.75, for a total value of $1,473,836.25. Following the completion of the sale, the executive vice president now owns 4,988 shares in the company, valued at approximately $472,613. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,103 shares of company stock worth $3,445,847. Insiders own 1.65% of the company’s stock.

CarMax Company Profile

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CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through 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, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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