Allspring Global Investments Holdings LLC Sells 44,695 Shares of CarMax, Inc. (NYSE:KMX)

Allspring Global Investments Holdings LLC lessened its stake in CarMax, Inc. (NYSE:KMXFree Report) by 84.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,325 shares of the company’s stock after selling 44,695 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CarMax were worth $725,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KMX. Norges Bank bought a new stake in shares of CarMax in the fourth quarter valued at about $288,278,000. Morningstar Investment Services LLC lifted its stake in shares of CarMax by 95.4% in the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after buying an additional 1,326,840 shares during the period. American Century Companies Inc. lifted its stake in shares of CarMax by 674.3% in the third quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock valued at $57,059,000 after buying an additional 702,526 shares during the period. Verition Fund Management LLC lifted its stake in shares of CarMax by 5,711.9% in the fourth quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock valued at $32,781,000 after buying an additional 419,826 shares during the period. Finally, Rings Capital Management LLC lifted its stake in shares of CarMax by 162.9% in the fourth quarter. Rings Capital Management LLC now owns 460,000 shares of the company’s stock valued at $35,300,000 after buying an additional 285,000 shares during the period.

Insider Activity at CarMax

In related news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the transaction, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KMX shares. Robert W. Baird reduced their target price on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, April 12th. Mizuho dropped their price target on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Needham & Company LLC dropped their price target on shares of CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Argus raised shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of CarMax in a research report on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.50.

Read Our Latest Stock Analysis on KMX

CarMax Stock Performance

NYSE KMX opened at $73.00 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.42 and a beta of 1.69. The company has a 50 day moving average of $71.03 and a 200-day moving average of $73.92. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22.

CarMax (NYSE:KMXGet Free Report) last issued its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. CarMax’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. On average, equities analysts forecast that CarMax, Inc. will post 3.02 earnings per share for the current fiscal year.

CarMax Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

Receive News & Ratings for CarMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax and related companies with MarketBeat.com's FREE daily email newsletter.