CarMax, Inc. $KMX Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 3.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 817,830 shares of the company’s stock after selling 31,669 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of CarMax worth $34,005,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Huntington National Bank raised its holdings in shares of CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in CarMax in the second quarter valued at $28,000. MUFG Securities EMEA plc acquired a new position in shares of CarMax in the second quarter worth about $30,000. Advisory Services Network LLC acquired a new position in shares of CarMax in the third quarter worth about $32,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of CarMax during the 4th quarter worth about $33,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KMX shares. Truist Financial raised their target price on CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, June 18th. Mizuho upped their price target on CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. increased their price target on CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, June 18th. Barclays raised CarMax from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $37.00 to $61.00 in a report on Tuesday, July 21st. Finally, Bank of America boosted their price objective on CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $49.33.

CarMax Price Performance

NYSE:KMX opened at $58.31 on Monday. The stock has a 50 day moving average of $49.69 and a two-hundred day moving average of $45.21. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $62.56. The firm has a market cap of $8.27 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.35. The business had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. On average, analysts expect that CarMax, Inc. will post 2.7 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, Director Sona Chawla acquired 2,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were bought at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the acquisition, the director owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Keith Barr bought 9,400 shares of the stock in a transaction on Monday, June 22nd. The shares were acquired at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the purchase, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 13,900 shares of company stock valued at $735,574. 1.01% of the stock is owned by insiders.

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.