Clearstead Trust LLC Sells 3,455 Shares of CarMax, Inc. (NYSE:KMX)

Clearstead Trust LLC trimmed its holdings in shares of CarMax, Inc. (NYSE:KMX) by 88.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 470 shares of the company’s stock after selling 3,455 shares during the quarter. Clearstead Trust LLC’s holdings in CarMax were worth $34,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its position in CarMax by 29.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock worth $14,573,000 after acquiring an additional 37,660 shares during the period. Fairview Capital Investment Management LLC increased its position in CarMax by 7.0% during the fourth quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock worth $19,302,000 after acquiring an additional 16,438 shares during the period. Quadrature Capital Ltd bought a new position in CarMax during the fourth quarter worth about $5,637,000. State Board of Administration of Florida Retirement System increased its position in CarMax by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock worth $16,238,000 after acquiring an additional 17,557 shares during the period. Finally, First Pacific Advisors LP increased its position in CarMax by 1.2% during the fourth quarter. First Pacific Advisors LP now owns 2,331,545 shares of the company’s stock worth $178,923,000 after acquiring an additional 28,095 shares during the period.

CarMax Stock Up 0.3 %

Shares of NYSE:KMX opened at $79.04 on Tuesday. The company has a fifty day moving average of $80.26 and a 200-day moving average of $76.53. The company has a market capitalization of $12.34 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. CarMax, Inc. has a 52-week low of $59.66 and a 52-week high of $88.22.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. On average, equities analysts predict that CarMax, Inc. will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KMX has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research report on Friday, August 16th. Needham & Company LLC lowered their price objective on shares of CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Monday, June 24th. Truist Financial boosted their price objective on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, June 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, CarMax currently has a consensus rating of “Hold” and an average target price of $76.25.

Insider Activity at CarMax

In related news, CEO William D. Nash sold 120,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP John M. Stuckey III sold 19,673 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $82.01, for a total value of $1,613,382.73. Following the completion of the sale, the senior vice president now directly owns 969 shares in the company, valued at $79,467.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Insiders sold 185,243 shares of company stock worth $14,893,042 over the last three months. Company insiders own 1.66% of the company’s stock.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.