Verdence Capital Advisors LLC Grows Stake in CarMax, Inc. (NYSE:KMX)

Verdence Capital Advisors LLC increased its position in CarMax, Inc. (NYSE:KMX) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,113 shares of the company’s stock after acquiring an additional 1,518 shares during the period. Verdence Capital Advisors LLC’s holdings in CarMax were worth $853,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KMX. Vanguard Group Inc. grew its stake in shares of CarMax by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,690,606 shares of the company’s stock valued at $1,706,790,000 after purchasing an additional 303,973 shares during the period. BlackRock Inc. grew its position in CarMax by 1.8% during the first quarter. BlackRock Inc. now owns 10,633,886 shares of the company’s stock valued at $683,546,000 after buying an additional 184,104 shares during the period. Akre Capital Management LLC increased its holdings in CarMax by 0.7% during the first quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock valued at $708,159,000 after buying an additional 49,780 shares during the last quarter. State Street Corp raised its position in CarMax by 3.2% in the second quarter. State Street Corp now owns 6,220,212 shares of the company’s stock worth $520,632,000 after acquiring an additional 193,111 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of CarMax by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock worth $392,458,000 after acquiring an additional 210,440 shares during the last quarter.

Analyst Ratings Changes

KMX has been the subject of several analyst reports. Bank of America upped their price objective on CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Robert W. Baird decreased their price objective on CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a research note on Friday, April 12th. Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of CarMax in a research note on Tuesday, April 16th. Needham & Company LLC decreased their target price on shares of CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $83.00 price target on shares of CarMax in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.42.

Insider Buying and Selling

In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the sale, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Jill A. Livesay sold 14,199 shares of CarMax stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the transaction, the vice president now directly owns 9,068 shares of the company’s stock, valued at $642,830.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Diane L. Cafritz sold 22,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the sale, the executive vice president now owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,929 shares of company stock worth $2,740,901. Corporate insiders own 1.66% of the company’s stock.

CarMax Stock Up 0.6 %

Shares of KMX stock opened at $68.34 on Monday. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. The company’s fifty day simple moving average is $78.42 and its two-hundred day simple moving average is $72.08. The stock has a market cap of $10.76 billion, a P/E ratio of 22.55, a PEG ratio of 1.13 and a beta of 1.61.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a return on equity of 7.26% and a net margin of 1.81%. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts predict that CarMax, Inc. will post 3.3 EPS for the current fiscal year.

CarMax Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company 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.