Welch & Forbes LLC Sells 19,740 Shares of CarMax, Inc. $KMX

Welch & Forbes LLC reduced its holdings in shares of CarMax, Inc. (NYSE:KMX) by 4.4% in the first quarter, Holdings Channel.com reports. The fund owned 426,833 shares of the company’s stock after selling 19,740 shares during the quarter. Welch & Forbes LLC’s holdings in CarMax were worth $17,748,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SRS Investment Management LLC increased its stake in CarMax by 1,717.5% in the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after purchasing an additional 5,327,603 shares during the period. AQR Capital Management LLC boosted its stake in shares of CarMax by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the period. Norges Bank bought a new position in shares of CarMax in the fourth quarter worth about $159,232,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of CarMax by 73.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after purchasing an additional 1,494,205 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in CarMax by 1,467.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,149,000 shares of the company’s stock worth $44,397,000 after buying an additional 1,075,700 shares during the period.

Analyst Ratings Changes

Several research firms have issued reports on KMX. JPMorgan Chase & Co. boosted their price objective on shares of CarMax from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday, June 18th. Bank of America raised their target price on shares of CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 17th. Robert W. Baird boosted their price target on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Benchmark reissued a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Finally, Royal Bank Of Canada raised their price objective on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, CarMax has a consensus rating of “Reduce” and a consensus price target of $47.73.

CarMax Stock Up 5.0%

NYSE KMX traded up $2.55 during trading on Friday, reaching $53.56. 2,287,836 shares of the company’s stock traded hands, compared to its average volume of 3,722,328. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17. The company’s 50 day simple moving average is $45.95 and its two-hundred day simple moving average is $43.90. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $66.40.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that CarMax, Inc. will post 2.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Keith Barr bought 9,400 shares of the stock in a transaction on Monday, June 22nd. The stock was bought at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the acquisition, the chief executive officer directly owned 33,375 shares in the company, valued at approximately $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter J. Bensen bought 2,500 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 13,900 shares of company stock valued at $735,574 over the last 90 days. Corporate insiders own 1.01% of the company’s stock.

CarMax 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.