Insider Selling: CarMax, Inc. (NYSE:KMX) CEO Sells 120,513 Shares of Stock

CarMax, Inc. (NYSE:KMX) CEO William D. Nash sold 120,513 shares of CarMax stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $83.24, for a total value of $10,031,502.12. Following the completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $15,123,292.92. This represents a 39.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

CarMax Stock Down 1.6 %

KMX stock opened at $83.77 on Friday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The business has a 50 day moving average of $80.03 and a 200 day moving average of $78.20. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25. The firm has a market cap of $12.98 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 1.74 and a beta of 1.71.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. CarMax’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts forecast that CarMax, Inc. will post 3.01 EPS for the current fiscal year.

Institutional Investors Weigh In On CarMax

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in CarMax by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 972,307 shares of the company’s stock valued at $71,309,000 after purchasing an additional 5,012 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in CarMax in the 2nd quarter worth about $208,000. Cambridge Investment Research Advisors Inc. lifted its stake in CarMax by 53.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 40,874 shares of the company’s stock valued at $2,998,000 after acquiring an additional 14,230 shares during the period. HB Wealth Management LLC boosted its holdings in shares of CarMax by 27.5% during the 2nd quarter. HB Wealth Management LLC now owns 5,651 shares of the company’s stock valued at $414,000 after acquiring an additional 1,218 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CarMax by 29.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,383 shares of the company’s stock worth $2,155,000 after acquiring an additional 6,658 shares during the period.

Analysts Set New Price Targets

Several analysts have weighed in on KMX shares. JPMorgan Chase & Co. boosted their price objective on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Stephens assumed coverage on shares of CarMax in a report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $95.00 target price on shares of CarMax in a report on Wednesday, October 16th. Evercore ISI upped their price target on CarMax from $83.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, Truist Financial lifted their price objective on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $85.17.

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.