Vision Capital Management Inc. Decreases Position in CarMax, Inc. (NYSE:KMX)

Vision Capital Management Inc. reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 50,455 shares of the company’s stock after selling 423 shares during the period. Vision Capital Management Inc.’s holdings in CarMax were worth $3,700,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KMX. BNP Paribas Financial Markets raised its stake in shares of CarMax by 16.4% during 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 during the period. CANADA LIFE ASSURANCE Co lifted its holdings in CarMax by 29.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock worth $14,573,000 after buying an additional 37,660 shares in the last quarter. Fairview Capital Investment Management LLC boosted its position in CarMax by 7.0% in the 4th quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock valued at $19,302,000 after buying an additional 16,438 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of CarMax during the fourth quarter valued at about $5,637,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CarMax by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company’s stock worth $76,058,000 after acquiring an additional 30,107 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KMX. Truist Financial raised their price objective on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of CarMax in a research report on Monday, June 24th. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price target on shares of CarMax in a report on Friday, August 16th. Morgan Stanley reiterated an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Finally, Royal Bank of Canada boosted their target price 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. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, CarMax has a consensus rating of “Hold” and an average target price of $76.25.

CarMax Price Performance

KMX opened at $80.61 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The company’s 50-day moving average price is $79.79 and its 200 day moving average price is $76.48. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 1.62 and a beta of 1.69.

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

Insider Activity

In related news, SVP Jon G. Daniels sold 1,231 shares of CarMax 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 sale, the senior vice president now directly owns 995 shares in the company, valued at approximately $72,097.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now owns 15,609 shares of the company’s stock, valued at $1,249,032.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the sale, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,243 shares of company stock valued at $14,893,042. 1.66% of the stock is currently owned by company insiders.

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.