Fifth Third Bancorp Sells 1,940 Shares of CarMax, Inc. $KMX

Fifth Third Bancorp trimmed its stake in shares of CarMax, Inc. (NYSE:KMX) by 19.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,091 shares of the company’s stock after selling 1,940 shares during the period. Fifth Third Bancorp’s holdings in CarMax were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Oregon Pacific Wealth Management LLC raised its holdings in shares of CarMax by 17.5% during the second quarter. Oregon Pacific Wealth Management LLC now owns 7,468 shares of the company’s stock valued at $502,000 after purchasing an additional 1,112 shares during the last quarter. Revisor Wealth Management LLC purchased a new stake in CarMax during the second quarter valued at approximately $270,000. Alpha Omega Wealth Management LLC increased its holdings in CarMax by 6.0% during the second quarter. Alpha Omega Wealth Management LLC now owns 54,783 shares of the company’s stock valued at $3,682,000 after buying an additional 3,105 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. increased its holdings in CarMax by 5.2% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 4,555 shares of the company’s stock valued at $306,000 after buying an additional 226 shares during the last quarter. Finally, Meriwether Wealth & Planning LLC increased its holdings in CarMax by 7.9% during the second quarter. Meriwether Wealth & Planning LLC now owns 17,138 shares of the company’s stock valued at $1,152,000 after buying an additional 1,255 shares during the last quarter.

Insider Activity at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction on 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 transaction, the executive vice president directly owned 2,779 shares of the company’s stock, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on KMX shares. Morgan Stanley started coverage on shares of CarMax in a report on Tuesday, July 1st. They set an “overweight” rating and a $80.00 target price for the company. BNP Paribas Exane reduced their target price on shares of CarMax from $52.00 to $35.00 and set an “underperform” rating for the company in a report on Friday. Truist Financial reduced their target price on shares of CarMax from $74.00 to $47.00 and set a “hold” rating for the company in a report on Friday. Royal Bank Of Canada reduced their target price on shares of CarMax from $81.00 to $59.00 and set an “outperform” rating for the company in a report on Friday. Finally, Mizuho reduced their price objective on shares of CarMax from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, CarMax has an average rating of “Moderate Buy” and a consensus target price of $62.15.

CarMax Stock Performance

Shares of NYSE:KMX opened at $45.25 on Tuesday. CarMax, Inc. has a 52 week low of $42.75 and a 52 week high of $91.25. The stock has a market capitalization of $6.79 billion, a P/E ratio of 13.27, a PEG ratio of 0.76 and a beta of 1.35. The firm has a fifty day simple moving average of $58.27 and a two-hundred day simple moving average of $64.55. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). CarMax had a return on equity of 8.51% and a net margin of 1.98%.The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The business’s quarterly revenue was down 6.0% on a year-over-year basis. On average, analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

CarMax Company Profile

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.