First Trust Advisors LP Sells 52,461 Shares of CarMax, Inc. (NYSE:KMX)

First Trust Advisors LP decreased its position in CarMax, Inc. (NYSE:KMX – Get Rating) by 32.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,511 shares of the company’s stock after selling 52,461 shares during the quarter. First Trust Advisors LP’s holdings in CarMax were worth $7,296,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Kinneret Advisory LLC grew its stake in shares of CarMax by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 5,192 shares of the company’s stock valued at $501,000 after buying an additional 116 shares in the last quarter. BOKF NA boosted its position in CarMax by 0.9% during the second quarter. BOKF NA now owns 13,233 shares of the company’s stock worth $1,198,000 after purchasing an additional 121 shares during the period. Copperleaf Capital LLC boosted its position in CarMax by 1.8% during the second quarter. Copperleaf Capital LLC now owns 9,474 shares of the company’s stock worth $857,000 after purchasing an additional 171 shares during the period. Beacon Financial Group boosted its position in CarMax by 0.9% during the third quarter. Beacon Financial Group now owns 19,151 shares of the company’s stock worth $1,244,000 after purchasing an additional 173 shares during the period. Finally, Strengthening Families & Communities LLC boosted its position in CarMax by 8.3% during the third quarter. Strengthening Families & Communities LLC now owns 2,483 shares of the company’s stock worth $163,000 after purchasing an additional 190 shares during the period.

CarMax Price Performance

Shares of KMX stock opened at $61.21 on Tuesday. The stock’s fifty day moving average is $69.28 and its 200-day moving average is $69.66. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.81 and a current ratio of 2.57. The stock has a market capitalization of $9.67 billion, a PE ratio of 17.15, a PEG ratio of 8.35 and a beta of 1.43. CarMax, Inc. has a 52 week low of $52.10 and a 52 week high of $106.24.

CarMax (NYSE:KMX – Get Rating) last posted its quarterly earnings results on Thursday, December 22nd. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.34). The firm had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $7.18 billion. CarMax had a net margin of 1.82% and a return on equity of 10.69%. CarMax’s revenue was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 EPS. Equities research analysts expect that CarMax, Inc. will post 2.8 EPS for the current fiscal year.

Insider Activity at CarMax

In other news, President & CEO William D. Nash purchased 8,220 shares of the firm’s stock in a transaction that occurred on Friday, December 30th. The shares were acquired at an average price of $60.98 per share, for a total transaction of $501,255.60. Following the completion of the acquisition, the insider now directly owns 165,128 shares in the company, valued at $10,069,505.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America decreased their target price on CarMax from $100.00 to $49.00 and set an “underperform” rating for the company in a research report on Friday, December 23rd. Morgan Stanley reduced their price objective on CarMax from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, December 28th. Stephens reduced their price objective on CarMax from $64.00 to $53.00 in a research report on Friday, December 23rd. Oppenheimer cut their target price on CarMax from $100.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, December 23rd. Finally, Argus lowered CarMax from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.50.

CarMax Company Profile

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CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations.