Envestnet Portfolio Solutions Inc. Trims Stock Position in CarMax, Inc. (NYSE:KMX)

Envestnet Portfolio Solutions Inc. decreased its stake in CarMax, Inc. (NYSE:KMX) by 33.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,209 shares of the company’s stock after selling 6,087 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CarMax were worth $951,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KMX. Allworth Financial LP lifted its stake in CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after buying an additional 249 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of CarMax by 38.4% in the 1st quarter. Parallel Advisors LLC now owns 937 shares of the company’s stock valued at $73,000 after acquiring an additional 260 shares during the period. Arizona State Retirement System raised its position in CarMax by 0.6% in the 4th quarter. Arizona State Retirement System now owns 44,998 shares of the company’s stock valued at $3,679,000 after purchasing an additional 282 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in CarMax by 10.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company’s stock worth $261,000 after purchasing an additional 307 shares during the period. Finally, King Luther Capital Management Corp boosted its stake in CarMax by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 55,680 shares of the company’s stock worth $4,552,000 after purchasing an additional 349 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have commented on KMX. JPMorgan Chase & Co. dropped their price objective on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Evercore ISI dropped their price target on CarMax from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 28th. Truist Financial increased their price objective on CarMax from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of CarMax in a report on Wednesday, June 18th. Finally, Cfra Research upgraded CarMax to a “strong-buy” rating in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CarMax presently has an average rating of “Moderate Buy” and an average price target of $85.10.

CarMax Price Performance

Shares of NYSE:KMX opened at $69.30 on Wednesday. The business has a fifty day simple moving average of $65.63 and a 200-day simple moving average of $75.18. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25. The company has a market cap of $10.58 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.11 and a beta of 1.38. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.20. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. Equities research analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod bought 1,300 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $65.49 per share, with a total value of $85,137.00. Following the completion of the transaction, the director now directly owns 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. This represents a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

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.