Cypress Wealth Services LLC Buys 707 Shares of CarMax, Inc. (NYSE:KMX)

Cypress Wealth Services LLC boosted its stake in CarMax, Inc. (NYSE:KMX) by 26.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,423 shares of the company’s stock after purchasing an additional 707 shares during the quarter. Cypress Wealth Services LLC’s holdings in CarMax were worth $251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in shares of CarMax in the fourth quarter worth about $9,420,000. Allworth Financial LP increased its holdings in shares of CarMax by 153.3% in the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after acquiring an additional 207 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of CarMax by 4.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 30,541 shares of the company’s stock worth $2,362,000 after acquiring an additional 1,428 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of CarMax by 3.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,725 shares of the company’s stock worth $2,818,000 after acquiring an additional 1,343 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of CarMax in the fourth quarter worth about $232,000.

Insider Activity at CarMax

In related news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the transaction, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The disclosure for this sale can be found here. Insiders have sold a total of 185,243 shares of company stock valued at $14,893,042 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

CarMax Stock Performance

Shares of KMX traded down $0.14 during mid-day trading on Friday, reaching $75.69. The company’s stock had a trading volume of 1,487,293 shares, compared to its average volume of 1,984,297. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The stock has a market cap of $11.81 billion, a P/E ratio of 29.57, a PEG ratio of 1.66 and a beta of 1.69. The business has a 50-day simple moving average of $75.42 and a two-hundred day simple moving average of $75.07. 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 (NYSE:KMX) last posted its quarterly earnings data on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping 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 quarter last year, the company earned $1.16 EPS. The company’s revenue was down 7.5% on a year-over-year basis. As a group, equities research analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KMX shares. Evercore ISI increased their price target on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday, July 16th. Truist Financial upped their price objective on CarMax from $66.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, June 24th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Monday, June 24th. Argus raised CarMax to a “hold” rating in a research report on Tuesday, June 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Three 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’s stock. Based on data from MarketBeat, CarMax 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.