RiverPark Advisors LLC Sells 11,361 Shares of CarMax Inc (KMX)
RiverPark Advisors LLC cut its holdings in shares of CarMax Inc (NYSE:KMX) by 16.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,847 shares of the company’s stock after selling 11,361 shares during the quarter. CarMax accounts for 0.6% of RiverPark Advisors LLC’s holdings, making the stock its 27th largest position. RiverPark Advisors LLC’s holdings in CarMax were worth $4,385,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in KMX. Schwab Charles Investment Management Inc. increased its stake in CarMax by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock valued at $40,552,000 after acquiring an additional 24,390 shares during the last quarter. Calamos Advisors LLC increased its stake in CarMax by 20.3% in the second quarter. Calamos Advisors LLC now owns 341,647 shares of the company’s stock valued at $21,544,000 after acquiring an additional 57,657 shares during the last quarter. Principal Financial Group Inc. increased its stake in CarMax by 8.3% in the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock valued at $578,702,000 after acquiring an additional 706,369 shares during the last quarter. Prudential Financial Inc. increased its stake in CarMax by 6.1% in the third quarter. Prudential Financial Inc. now owns 272,325 shares of the company’s stock valued at $20,645,000 after acquiring an additional 15,545 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in CarMax by 16.1% in the second quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock valued at $1,364,000 after acquiring an additional 3,002 shares during the last quarter.
A number of analysts have weighed in on the stock. Oppenheimer restated a “hold” rating and issued a $80.00 target price on shares of CarMax in a research report on Wednesday. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, September 26th. Wedbush reissued an “outperform” rating and set a $77.00 target price (up previously from $73.00) on shares of CarMax in a research note on Wednesday, September 13th. Buckingham Research lifted their price target on shares of CarMax from $66.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, September 25th. Finally, Credit Suisse Group lifted their price target on shares of CarMax from $75.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $77.00.
CarMax Inc (NYSE:KMX) traded down $1.17 during trading hours on Thursday, hitting $66.55. 2,305,800 shares of the stock traded hands, compared to its average volume of 2,226,364. The company has a current ratio of 2.33, a quick ratio of 0.48 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $12,110.00, a P/E ratio of 18.60, a PEG ratio of 1.14 and a beta of 1.47. CarMax Inc has a one year low of $54.29 and a one year high of $77.64.
CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.03. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. equities research analysts predict that CarMax Inc will post 3.84 earnings per share for the current year.
In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $68.72, for a total value of $549,760.00. Following the transaction, the director now directly owns 447,572 shares in the company, valued at $30,757,147.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Nash sold 100,522 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $73.85, for a total transaction of $7,423,549.70. Following the completion of the transaction, the chief executive officer now owns 62,902 shares in the company, valued at $4,645,312.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 625,955 shares of company stock worth $46,214,378. 1.70% of the stock is owned by corporate insiders.
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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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