Welch & Forbes LLC Sells 27,609 Shares of CarMax, Inc. (NYSE:KMX)

Welch & Forbes LLC cut its stake in shares of CarMax, Inc. (NYSE:KMX) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 886,947 shares of the company’s stock after selling 27,609 shares during the quarter. Welch & Forbes LLC owned 0.56% of CarMax worth $68,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of CarMax by 3.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 28,944 shares of the company’s stock worth $2,047,000 after purchasing an additional 999 shares in the last quarter. Xponance Inc. lifted its position in shares of CarMax by 5.2% in the third quarter. Xponance Inc. now owns 24,393 shares of the company’s stock worth $1,725,000 after buying an additional 1,203 shares in the last quarter. Raymond James & Associates raised its holdings in shares of CarMax by 3.8% during the 3rd quarter. Raymond James & Associates now owns 293,176 shares of the company’s stock worth $20,736,000 after acquiring an additional 10,824 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in CarMax by 2.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 216,630 shares of the company’s stock valued at $15,322,000 after acquiring an additional 5,355 shares during the last quarter. Finally, Forsta AP Fonden lifted its stake in shares of CarMax by 1.9% during the 3rd quarter. Forsta AP Fonden now owns 32,800 shares of the company’s stock worth $2,320,000 after acquiring an additional 600 shares during the last quarter.

Insider Activity

In other news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the transaction, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on KMX. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of CarMax in a research report on Tuesday, April 16th. Needham & Company LLC cut their price objective on shares of CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 12th. JPMorgan Chase & Co. cut their price target on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, April 15th. Bank of America boosted their target price on shares of CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Finally, Oppenheimer reiterated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.42.

CarMax Stock Performance

CarMax stock traded up $0.88 during mid-day trading on Monday, hitting $69.59. The company had a trading volume of 1,743,950 shares, compared to its average volume of 2,032,557. The company’s fifty day moving average is $77.62 and its 200-day moving average is $72.16. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 1.15 and a beta of 1.64. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96.

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