World Investment Advisors Cuts Holdings in CarMax, Inc. $KMX

World Investment Advisors lowered its position in CarMax, Inc. (NYSE:KMX) by 32.6% in the first quarter, HoldingsChannel reports. The fund owned 74,790 shares of the company’s stock after selling 36,223 shares during the quarter. World Investment Advisors’ holdings in CarMax were worth $3,110,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KMX. SRS Investment Management LLC raised its holdings in CarMax by 1,717.5% in the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after purchasing an additional 5,327,603 shares during the period. AQR Capital Management LLC grew its holdings in CarMax by 151.8% in the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the period. Norges Bank acquired a new stake in CarMax in the fourth quarter valued at approximately $159,232,000. Arrowstreet Capital Limited Partnership increased its position in shares of CarMax by 73.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock valued at $158,074,000 after buying an additional 1,494,205 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of CarMax by 1,467.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,149,000 shares of the company’s stock valued at $44,397,000 after buying an additional 1,075,700 shares in the last quarter.

CarMax Price Performance

KMX traded up $0.76 on Tuesday, reaching $50.97. 162,934 shares of the company’s stock were exchanged, compared to its average volume of 3,459,402. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $69.38. The stock has a market cap of $7.23 billion, a PE ratio of 33.27, a P/E/G ratio of 1.65 and a beta of 1.17. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The stock’s fifty day moving average price is $44.90 and its 200-day moving average price is $43.59.

CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. CarMax’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts expect that CarMax, Inc. will post 2.68 EPS for the current year.

Insider Activity at CarMax

In related news, Director Sona Chawla acquired 2,000 shares of CarMax stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the transaction, the director owned 21,702 shares in the company, valued at $1,158,669.78. This represents a 10.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith Barr acquired 9,400 shares of the stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the purchase, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. The trade was a 39.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective for the company in a research report on Thursday, June 18th. Evercore set a $45.00 price objective on shares of CarMax in a report on Friday, April 10th. Royal Bank Of Canada boosted their target price on shares of CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Finally, Benchmark restated a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $47.73.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.