World Asset Management Inc cut its stake in shares of CarMax Inc (NYSE:KMX) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,656 shares of the company’s stock after selling 2,583 shares during the period. World Asset Management Inc’s holdings in CarMax were worth $1,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. First Bank & Trust raised its stake in shares of CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock valued at $123,000 after buying an additional 138 shares in the last quarter. Quantitative Systematic Strategies LLC raised its stake in shares of CarMax by 35.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 35,213 shares of the company’s stock valued at $2,085,000 after buying an additional 9,221 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CarMax by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 193,635 shares of the company’s stock valued at $11,467,000 after buying an additional 11,352 shares in the last quarter. Legal & General Group Plc raised its stake in shares of CarMax by 2.6% in the first quarter. Legal & General Group Plc now owns 907,143 shares of the company’s stock valued at $53,722,000 after buying an additional 23,085 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of CarMax by 2.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,076 shares of the company’s stock valued at $281,000 after buying an additional 131 shares in the last quarter.

CarMax Inc (NYSE:KMX) opened at 65.72 on Friday. The stock’s 50 day moving average price is $63.73 and its 200 day moving average price is $62.81. The firm has a market capitalization of $12.04 billion, a P/E ratio of 18.87 and a beta of 1.34. CarMax Inc has a 12 month low of $47.50 and a 12 month high of $69.11.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the business earned $0.90 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that CarMax Inc will post $3.70 earnings per share for the current year.

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A number of brokerages have commented on KMX. Royal Bank Of Canada decreased their target price on CarMax from $71.00 to $63.00 and set a “sector perform” rating for the company in a research note on Friday, April 7th. Oppenheimer Holdings, Inc. set a $72.00 target price on CarMax and gave the company a “buy” rating in a research note on Monday, June 19th. ValuEngine downgraded CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Wedbush upgraded CarMax from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $60.00 to $70.00 in a research note on Thursday, May 18th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $73.00 target price (up from $71.00) on shares of CarMax in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.00.

In other CarMax news, Director Thomas J. Folliard sold 50,000 shares of CarMax stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $61.41, for a total value of $3,070,500.00. Following the sale, the director now directly owns 509,166 shares in the company, valued at approximately $31,267,884.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edwin J. Hill sold 35,000 shares of CarMax stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $64.88, for a total transaction of $2,270,800.00. Following the completion of the sale, the executive vice president now owns 39,792 shares in the company, valued at $2,581,704.96. The disclosure for this sale can be found here. Insiders sold a total of 188,515 shares of company stock worth $12,085,019 over the last quarter. Company insiders own 1.70% of the company’s stock.

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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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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