Allspring Global Investments Holdings LLC Sells 470 Shares of CarMax, Inc. (NYSE:KMX)

Allspring Global Investments Holdings LLC reduced its holdings in shares of CarMax, Inc. (NYSE:KMX) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,855 shares of the company’s stock after selling 470 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CarMax were worth $576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in CarMax by 16.4% in the fourth quarter. BNP Paribas Financial Markets now owns 127,402 shares of the company’s stock valued at $9,777,000 after purchasing an additional 17,973 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of CarMax by 29.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after acquiring an additional 37,660 shares in the last quarter. Fairview Capital Investment Management LLC increased its position in shares of CarMax by 7.0% in the fourth quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock valued at $19,302,000 after acquiring an additional 16,438 shares during the last quarter. Quadrature Capital Ltd bought a new stake in CarMax during the fourth quarter worth about $5,637,000. Finally, Charles Schwab Investment Management Inc. boosted its position in CarMax by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company’s stock valued at $76,058,000 after purchasing an additional 30,107 shares during the last quarter.

Insider Buying and Selling

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the sale, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,690,899.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,243 shares of company stock valued at $14,893,042. 1.66% of the stock is owned by company insiders.

CarMax Price Performance

Shares of NYSE KMX opened at $80.91 on Friday. The firm has a market cap of $12.63 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 1.72 and a beta of 1.69. The business’s 50 day moving average is $79.48 and its 200-day moving average is $76.29. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same period in the prior year, the firm posted $1.16 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities research analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KMX. Wedbush reiterated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research note on Friday, August 16th. Royal Bank of Canada upped their price target on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Truist Financial lifted their price objective on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, June 24th. Needham & Company LLC dropped their target price on shares of CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Argus upgraded CarMax to a “hold” rating in a report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.25.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.