Bank of New York Mellon Corp Sells 16,098 Shares of CarMax, Inc. (NYSE:KMX)

Bank of New York Mellon Corp reduced its stake in CarMax, Inc. (NYSE:KMX) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 917,826 shares of the company’s stock after selling 16,098 shares during the period. Bank of New York Mellon Corp’s holdings in CarMax were worth $75,041,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in CarMax in the 3rd quarter worth about $32,000. True Wealth Design LLC grew its stake in CarMax by 4,844.4% in the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after acquiring an additional 436 shares in the last quarter. Cromwell Holdings LLC grew its stake in CarMax by 104.8% in the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after acquiring an additional 217 shares in the last quarter. Allworth Financial LP grew its stake in CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after acquiring an additional 249 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in CarMax by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after acquiring an additional 353 shares in the last quarter.

Insider Buying and Selling at CarMax

In other news, EVP Mohammad Shamim sold 10,000 shares of CarMax stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.77, for a total transaction of $837,700.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $983,292.26. The trade was a 46.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Nash sold 120,513 shares of CarMax stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $15,123,292.92. The trade was a 39.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock worth $21,915,445 over the last three months. Corporate insiders own 1.66% of the company’s stock.

CarMax Price Performance

Shares of KMX opened at $81.45 on Tuesday. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.67 and a beta of 1.72. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The company has a 50 day moving average of $83.22 and a two-hundred day moving average of $80.40.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. CarMax’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. As a group, analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC upped their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Truist Financial increased their price objective on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted their price objective on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Finally, StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, CarMax currently has an average rating of “Hold” and an average price target of $90.91.

About CarMax

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.