Connecticut Wealth Management LLC Lowers Stock Holdings in CarMax, Inc. (NYSE:KMX)

Connecticut Wealth Management LLC decreased its holdings in CarMax, Inc. (NYSE:KMX) by 6.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,183 shares of the company’s stock after selling 300 shares during the period. Connecticut Wealth Management LLC’s holdings in CarMax were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Diamond Hill Capital Management Inc. grew its holdings in CarMax by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock valued at $392,458,000 after purchasing an additional 210,440 shares during the period. Invesco Ltd. raised its position in shares of CarMax by 3.1% in the 3rd quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock worth $207,843,000 after buying an additional 88,488 shares during the period. Cooke & Bieler LP boosted its holdings in CarMax by 3.1% in the fourth quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock valued at $179,928,000 after acquiring an additional 69,409 shares during the last quarter. Northern Trust Corp grew its position in CarMax by 3.2% during the third quarter. Northern Trust Corp now owns 1,570,993 shares of the company’s stock valued at $111,116,000 after acquiring an additional 48,879 shares during the period. Finally, Giverny Capital Inc. lifted its holdings in shares of CarMax by 1.3% during the 3rd quarter. Giverny Capital Inc. now owns 1,520,438 shares of the company’s stock valued at $107,541,000 after acquiring an additional 20,198 shares in the last quarter.

Insider Buying and Selling

In related news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the sale, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America upped their price target on shares of CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of CarMax in a research report on Tuesday, April 16th. Evercore ISI reduced their price objective on CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Robert W. Baird decreased their price objective on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, April 12th. Finally, StockNews.com raised shares of CarMax to a “sell” rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.42.

CarMax Price Performance

CarMax stock traded up $1.00 during mid-day trading on Monday, hitting $69.71. The company’s stock had a trading volume of 863,139 shares, compared to its average volume of 2,021,324. The stock’s fifty day moving average price is $77.62 and its two-hundred day moving average price is $72.16. The stock has a market capitalization of $10.97 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.15 and a beta of 1.64. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. CarMax, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Research analysts forecast that CarMax, Inc. will post 3.27 earnings per share for the current year.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.