Metropolitan Life Insurance Co NY Cuts Stock Position in CarMax, Inc. (NYSE:KMX)

Metropolitan Life Insurance Co NY cut its holdings in CarMax, Inc. (NYSE:KMXGet Rating) by 48.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,797 shares of the company’s stock after selling 9,224 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in CarMax were worth $945,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cary Street Partners Investment Advisory LLC increased its position in shares of CarMax by 0.9% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 9,990 shares of the company’s stock worth $1,301,000 after purchasing an additional 94 shares in the last quarter. Roundview Capital LLC increased its position in shares of CarMax by 1.6% during the fourth quarter. Roundview Capital LLC now owns 8,040 shares of the company’s stock worth $1,047,000 after purchasing an additional 125 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of CarMax by 0.9% during the first quarter. CIBC Asset Management Inc now owns 15,674 shares of the company’s stock worth $1,512,000 after purchasing an additional 142 shares in the last quarter. Tobam increased its position in shares of CarMax by 25.9% during the first quarter. Tobam now owns 699 shares of the company’s stock worth $67,000 after purchasing an additional 144 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of CarMax by 0.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 23,178 shares of the company’s stock worth $2,315,000 after purchasing an additional 153 shares in the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Diane L. Cafritz sold 18,092 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $91.06, for a total value of $1,647,457.52. Following the transaction, the executive vice president now owns 4,988 shares of the company’s stock, valued at approximately $454,207.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Diane L. Cafritz sold 18,092 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $91.06, for a total transaction of $1,647,457.52. Following the transaction, the executive vice president now owns 4,988 shares of the company’s stock, valued at approximately $454,207.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mohammad Shamim sold 3,456 shares of the stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $93.91, for a total value of $324,552.96. Following the transaction, the executive vice president now directly owns 8,769 shares in the company, valued at approximately $823,496.79. The disclosure for this sale can be found here. Insiders have sold a total of 37,103 shares of company stock valued at $3,445,847 in the last quarter. Insiders own 1.65% of the company’s stock.

CarMax Stock Performance

Shares of CarMax stock opened at $87.56 on Monday. CarMax, Inc. has a 52 week low of $84.37 and a 52 week high of $155.98. The business’s fifty day simple moving average is $95.12 and its 200-day simple moving average is $96.47. The firm has a market cap of $13.94 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.95 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 2.72 and a debt-to-equity ratio of 3.29.

CarMax (NYSE:KMXGet Rating) last announced its quarterly earnings results on Friday, June 24th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.51 by $0.05. CarMax had a return on equity of 18.40% and a net margin of 2.88%. The business had revenue of $9.31 billion for the quarter, compared to analyst estimates of $9.38 billion. During the same quarter in the prior year, the company posted $2.63 EPS. Equities analysts forecast that CarMax, Inc. will post 5.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on KMX shares. Royal Bank of Canada boosted their price target on CarMax from $104.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, June 27th. Wedbush upped their target price on CarMax from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, June 27th. JPMorgan Chase & Co. dropped their target price on CarMax from $110.00 to $105.00 in a report on Tuesday, June 7th. Finally, Morgan Stanley dropped their target price on CarMax from $140.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $126.89.

CarMax Profile

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CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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