BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stock Holdings in CarMax, Inc. $KMX

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of CarMax, Inc. (NYSE:KMX) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,415 shares of the company’s stock after selling 252 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CarMax were worth $2,292,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KMX. Zions Bancorporation National Association UT bought a new stake in shares of CarMax during the 1st quarter valued at $27,000. Accent Capital Management LLC purchased a new position in CarMax during the first quarter valued at $34,000. Strengthening Families & Communities LLC boosted its stake in shares of CarMax by 93.1% during the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock worth $39,000 after purchasing an additional 256 shares during the period. Ameriflex Group Inc. purchased a new position in shares of CarMax during the 4th quarter worth about $53,000. Finally, Colonial Trust Co SC boosted its position in CarMax by 2,310.0% in the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company’s stock valued at $59,000 after buying an additional 693 shares during the period.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the sale, the executive vice president owned 2,779 shares in the company, valued at approximately $196,308.56. The trade was a 35.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

CarMax Trading Down 0.2%

NYSE:KMX opened at $59.71 on Wednesday. CarMax, Inc. has a one year low of $54.53 and a one year high of $91.25. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The firm has a market cap of $8.96 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.97 and a beta of 1.36. The firm has a 50-day simple moving average of $62.22 and a 200-day simple moving average of $68.53.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the business posted $0.97 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

KMX has been the subject of several research reports. Morgan Stanley initiated coverage on shares of CarMax in a research report on Tuesday, July 1st. They issued an “overweight” rating and a $80.00 price objective for the company. Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Truist Financial boosted their price objective on shares of CarMax from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Monday, June 23rd. JPMorgan Chase & Co. raised shares of CarMax from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $65.00 to $58.00 in a research report on Wednesday, August 6th. Finally, Stephens reissued an “overweight” rating and issued a $81.00 price objective on shares of CarMax in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.50.

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.