Primecap Management Co. CA Cuts Position in CarMax, Inc. (NYSE:KMX)

Primecap Management Co. CA decreased its holdings in CarMax, Inc. (NYSE:KMX) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,411,784 shares of the company’s stock after selling 110,235 shares during the quarter. Primecap Management Co. CA owned about 3.47% of CarMax worth $396,900,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of KMX. First Community Trust NA purchased a new position in CarMax in the second quarter worth $29,000. Blue Trust Inc. raised its position in CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares in the last quarter. Studio Investment Management LLC raised its position in CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares in the last quarter. Headlands Technologies LLC purchased a new position in CarMax in the first quarter worth $55,000. Finally, First Financial Corp IN raised its position in CarMax by 127.2% in the first quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock worth $91,000 after acquiring an additional 585 shares in the last quarter.

Wall Street Analyst Weigh In

KMX has been the subject of a number of research analyst reports. Evercore ISI raised their price target on CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Truist Financial raised their price target on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, June 24th. Morgan Stanley restated an “overweight” rating and issued a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. Royal Bank of Canada raised their price target on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Finally, Mizuho dropped their price target on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.25.

Insiders Place Their Bets

In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the sale, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,243 shares of company stock valued at $14,893,042. Insiders own 1.66% of the company’s stock.

CarMax Trading Up 0.3 %

CarMax stock opened at $79.04 on Tuesday. The stock has a market cap of $12.34 billion, a PE ratio of 30.88, a P/E/G ratio of 1.53 and a beta of 1.69. The stock has a 50-day moving average price of $80.26 and a 200 day moving average price of $76.53. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same period last year, the company earned $1.16 EPS. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. Equities research analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

CarMax Company Profile

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.