Insider Selling: CarMax, Inc. (NYSE:KMX) EVP Sells 25,000 Shares of Stock

CarMax, Inc. (NYSE:KMX) EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CarMax Stock Performance

Shares of NYSE KMX traded up $0.24 during midday trading on Monday, reaching $83.26. 1,019,370 shares of the company traded hands, compared to its average volume of 1,988,328. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The stock has a 50-day moving average price of $73.66 and a 200 day moving average price of $74.46. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The company has a market cap of $13.00 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.69 and a beta of 1.69.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. During the same period in the previous year, the business earned $1.16 earnings per share. CarMax’s revenue for the quarter was down 7.5% compared to the same quarter last year. Sell-side analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KMX shares. Robert W. Baird decreased their price target on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday, April 12th. StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday. Royal Bank of Canada lifted their price objective on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. JPMorgan Chase & Co. reduced their price target on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Monday, April 15th. Finally, Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of CarMax in a report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $76.25.

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CarMax by 29.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,383 shares of the company’s stock worth $2,155,000 after purchasing an additional 6,658 shares in the last quarter. HB Wealth Management LLC increased its stake in CarMax by 27.5% in the 2nd quarter. HB Wealth Management LLC now owns 5,651 shares of the company’s stock worth $414,000 after purchasing an additional 1,218 shares in the last quarter. 1834 Investment Advisors Co. increased its stake in CarMax by 31.1% in the 2nd quarter. 1834 Investment Advisors Co. now owns 6,573 shares of the company’s stock worth $482,000 after purchasing an additional 1,561 shares in the last quarter. Trajan Wealth LLC increased its stake in CarMax by 4.2% in the 2nd quarter. Trajan Wealth LLC now owns 121,235 shares of the company’s stock worth $8,891,000 after purchasing an additional 4,881 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. increased its stake in CarMax by 0.8% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 114,460 shares of the company’s stock worth $8,394,000 after purchasing an additional 870 shares in the last quarter.

About CarMax

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.