Corient Private Wealth LLC Lowers Stake in CarMax, Inc. $KMX

Corient Private Wealth LLC lessened its stake in CarMax, Inc. (NYSE:KMX) by 94.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 55,162 shares of the company’s stock after selling 978,077 shares during the period. Corient Private Wealth LLC’s holdings in CarMax were worth $2,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank lifted its stake in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of CarMax in the second quarter valued at $28,000. MUFG Securities EMEA plc purchased a new stake in shares of CarMax in the 2nd quarter valued at $30,000. Advisory Services Network LLC purchased a new stake in shares of CarMax in the 3rd quarter valued at $32,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of CarMax in the 4th quarter valued at $33,000.

CarMax Trading Up 0.7%

NYSE KMX opened at $53.15 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $71.99. The stock has a market capitalization of $7.54 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.21. The firm has a 50 day moving average of $43.74 and a two-hundred day moving average of $43.23.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the prior year, the firm posted $1.38 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts expect that CarMax, Inc. will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird raised their target price on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. UBS Group boosted their price target on shares of CarMax from $42.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. Morgan Stanley increased their price target on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Truist Financial raised their price objective on shares of CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, June 18th. Finally, Mizuho lifted their price objective on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, CarMax has an average rating of “Reduce” and an average target price of $47.73.

Insider Buying and Selling

In other CarMax news, Director Peter J. Bensen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $52.20 per share, with a total value of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares of the company’s stock, valued at $1,294,351.20. This represents a 11.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sona Chawla purchased 2,000 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the purchase, the director owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This represents a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 13,900 shares of company stock worth $735,574. Corporate insiders own 1.01% of the company’s stock.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.