PNC Financial Services Group Inc. Sells 17,258 Shares of CarMax, Inc. (NYSE:KMX)

PNC Financial Services Group Inc. cut its stake in shares of CarMax, Inc. (NYSE:KMX) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,213 shares of the company’s stock after selling 17,258 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CarMax were worth $4,923,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KMX. True Wealth Design LLC boosted its stake in CarMax by 4,844.4% in the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after purchasing an additional 436 shares during the period. Cromwell Holdings LLC boosted its stake in CarMax by 104.8% in the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after purchasing an additional 217 shares during the period. Allworth Financial LP boosted its stake in CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after purchasing an additional 249 shares during the period. Larson Financial Group LLC boosted its stake in CarMax by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after purchasing an additional 353 shares during the period. Finally, ST Germain D J Co. Inc. bought a new position in CarMax in the 4th quarter worth approximately $58,000.

Insider Buying and Selling at CarMax

In other news, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares of the company’s stock, valued at approximately $765,288. This represents a 57.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Nash sold 120,513 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total value of $10,031,502.12. Following the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $15,123,292.92. The trade was a 39.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,467 shares of company stock valued at $21,915,445 in the last quarter. 1.66% of the stock is owned by insiders.

CarMax Stock Performance

NYSE:KMX opened at $72.55 on Thursday. The stock’s fifty day moving average is $82.22 and its 200 day moving average is $80.15. CarMax, Inc. has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The firm has a market capitalization of $11.16 billion, a PE ratio of 24.59, a PEG ratio of 1.67 and a beta of 1.76. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. CarMax’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, sell-side analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

KMX has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Truist Financial upped their price target on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Evercore ISI dropped their price target on CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday. Mizuho upped their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Finally, Stephens initiated coverage on CarMax in a report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, CarMax has an average rating of “Hold” and an average price target of $90.45.

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.