Bank of New York Mellon Corp lowered its position in shares of CarMax, Inc (NYSE:KMX) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,282,442 shares of the company’s stock after selling 20,156 shares during the quarter. Bank of New York Mellon Corp owned about 0.73% of CarMax worth $93,452,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in CarMax during the second quarter valued at $149,000. Fuller & Thaler Asset Management Inc. lifted its position in CarMax by 57.7% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after buying an additional 750 shares during the period. Federated Investors Inc. PA purchased a new position in CarMax during the second quarter valued at $189,000. Qube Research & Technologies Ltd purchased a new position in CarMax during the second quarter valued at $190,000. Finally, Private Advisor Group LLC purchased a new position in CarMax during the second quarter valued at $209,000.
KMX opened at $65.72 on Friday. The company has a quick ratio of 0.52, a current ratio of 2.35 and a debt-to-equity ratio of 3.78. The stock has a market capitalization of $12.30 billion, a PE ratio of 17.76, a P/E/G ratio of 1.14 and a beta of 1.62. CarMax, Inc has a 1 year low of $57.05 and a 1 year high of $81.67.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.02. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.65 billion. CarMax had a return on equity of 22.26% and a net margin of 4.12%. CarMax’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. Sell-side analysts forecast that CarMax, Inc will post 4.65 earnings per share for the current fiscal year.
KMX has been the subject of several recent research reports. Morgan Stanley set a $89.00 price objective on CarMax and gave the company a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research lowered CarMax from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Wedbush reissued an “outperform” rating and set a $85.00 price objective on shares of CarMax in a research report on Thursday, August 16th. Robert W. Baird raised CarMax from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 27th. Finally, ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $83.93.
In other news, SVP Jon G. Daniels sold 16,325 shares of CarMax stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $70.88, for a total value of $1,157,116.00. Following the completion of the transaction, the senior vice president now owns 16,325 shares of the company’s stock, valued at approximately $1,157,116. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Darren C. Newberry sold 1,831 shares of CarMax stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $73.80, for a total value of $135,127.80. Following the completion of the transaction, the senior vice president now directly owns 2,481 shares of the company’s stock, valued at approximately $183,097.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,298 shares of company stock valued at $3,824,215. 1.97% of the stock is owned by insiders.
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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