Procyon Advisors LLC Sells 2,048 Shares of CarMax, Inc. (NYSE:KMX)

Procyon Advisors LLC reduced its holdings in CarMax, Inc. (NYSE:KMX) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,334 shares of the company’s stock after selling 2,048 shares during the quarter. Procyon Advisors LLC’s holdings in CarMax were worth $1,172,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP increased its stake in shares of CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in CarMax in the third quarter worth $32,000. True Wealth Design LLC increased its stake in CarMax by 4,844.4% in the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after purchasing an additional 436 shares in the last quarter. ST Germain D J Co. Inc. bought a new position in shares of CarMax during the 4th quarter worth about $58,000. Finally, Larson Financial Group LLC grew its stake in CarMax by 91.9% in the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after acquiring an additional 353 shares during the period.

Wall Street Analysts Forecast Growth

KMX has been the subject of several recent analyst reports. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Needham & Company LLC boosted their target price on CarMax from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Mizuho upped their price target on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research note on Friday, October 4th. Finally, Stephens initiated coverage on shares of CarMax in a report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, CarMax has a consensus rating of “Hold” and a consensus target price of $85.17.

Insider Activity

In other CarMax news, VP Jill A. Livesay sold 13,009 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now directly owns 9,448 shares in the company, valued at $765,288. This represents a 57.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jon G. Daniels sold 10,000 shares of CarMax stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $85.30, for a total value of $853,000.00. Following the completion of the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at approximately $84,873.50. This trade represents a 90.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,598 shares of company stock worth $21,503,625. 1.66% of the stock is currently owned by insiders.

CarMax Stock Performance

Shares of NYSE KMX opened at $78.96 on Friday. The company has a market cap of $12.14 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.50 and a beta of 1.71. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The firm’s fifty day moving average is $82.07 and its two-hundred day moving average is $79.06.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.19. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, analysts anticipate that CarMax, Inc. will post 3.18 EPS for the current fiscal year.

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.