Insider Selling: CarMax Inc. (KMX) Director Sells $336,483.00 in Stock
CarMax Inc. (NYSE:KMX) Director Jeffrey E. Garten sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $53.41, for a total transaction of $336,483.00. Following the transaction, the director now directly owns 21,552 shares of the company’s stock, valued at $1,151,092.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
CarMax Inc. (NYSE:KMX) opened at 53.35 on Monday. The firm has a 50-day moving average price of $57.36 and a 200-day moving average price of $53.66. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 17.34 and a beta of 1.42. CarMax Inc. has a one year low of $41.25 and a one year high of $60.81.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. CarMax had a return on equity of 20.92% and a net margin of 3.95%. CarMax’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share. On average, equities analysts predict that CarMax Inc. will post $3.28 earnings per share for the current year.
KMX has been the subject of a number of recent research reports. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $60.00 price target on shares of CarMax in a research report on Tuesday, June 7th. Wedbush reissued a “hold” rating and set a $44.00 price target on shares of CarMax in a research report on Thursday, June 16th. Buckingham Research reissued a “buy” rating and set a $60.00 price target on shares of CarMax in a research report on Tuesday, June 21st. Robert W. Baird reissued a “neutral” rating and set a $58.00 price target (down from $60.00) on shares of CarMax in a research report on Wednesday, June 22nd. Finally, Susquehanna assumed coverage on shares of CarMax in a research report on Thursday, August 25th. They set a “positive” rating and a $70.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $62.39.
A number of hedge funds have recently bought and sold shares of the stock. Sun Life Financial INC purchased a new stake in CarMax during the first quarter valued at $94,024,000. Canada Pension Plan Investment Board raised its stake in CarMax by 52.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the company’s stock valued at $133,000 after buying an additional 900 shares during the period. IFP Advisors Inc raised its stake in CarMax by 9.8% in the first quarter. IFP Advisors Inc now owns 2,820 shares of the company’s stock valued at $144,000 after buying an additional 251 shares during the period. Mizuho Asset Management Co. Ltd. raised its stake in CarMax by 91.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,086 shares of the company’s stock valued at $151,000 after buying an additional 1,472 shares during the period. Finally, Pacer Advisors Inc. raised its stake in CarMax by 5.4% in the second quarter. Pacer Advisors Inc. now owns 3,453 shares of the company’s stock valued at $169,000 after buying an additional 176 shares during the period.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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