CarMax, Inc. (NYSE:KMX) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 0.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,487,556 shares of the company’s stock after selling 6,904 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in CarMax were worth $115,910,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMX. Accent Capital Management LLC acquired a new stake in CarMax during the 1st quarter worth about $34,000. Ameriflex Group Inc. acquired a new stake in CarMax during the 4th quarter worth about $53,000. Colonial Trust Co SC grew its position in CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company’s stock worth $59,000 after purchasing an additional 693 shares during the period. Blue Trust Inc. grew its position in CarMax by 49.2% during the 1st quarter. Blue Trust Inc. now owns 898 shares of the company’s stock worth $70,000 after purchasing an additional 296 shares during the period. Finally, Parallel Advisors LLC grew its position in CarMax by 38.4% during the 1st quarter. Parallel Advisors LLC now owns 937 shares of the company’s stock worth $73,000 after purchasing an additional 260 shares during the period.

Analysts Set New Price Targets

KMX has been the topic of several analyst reports. Mizuho cut their price target on CarMax from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, July 3rd. Needham & Company LLC reissued a “buy” rating and set a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. Evercore ISI lowered their target price on shares of CarMax from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 28th. Truist Financial increased their target price on shares of CarMax from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada increased their target price on shares of CarMax from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.08.

CarMax Trading Up 1.8%

Shares of CarMax stock opened at $55.93 on Tuesday. The firm has a market capitalization of $8.39 billion, a PE ratio of 15.45, a P/E/G ratio of 0.89 and a beta of 1.36. CarMax, Inc. has a twelve month low of $54.53 and a twelve month high of $91.25. The firm’s 50-day moving average price is $63.89 and its 200 day moving average price is $70.47. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.20. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. CarMax’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.97 EPS. On average, sell-side analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction dated 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 sale, the executive vice president owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

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.