CarMax, Inc. (NYSE:KMX) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its stake in CarMax, Inc. (NYSE:KMX) by 28.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,000 shares of the company’s stock after selling 18,583 shares during the quarter. Toronto Dominion Bank’s holdings in CarMax were worth $4,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after acquiring an additional 222,132 shares during the last quarter. Norges Bank purchased a new position in shares of CarMax during the 4th quarter worth $288,278,000. Morningstar Investment Services LLC grew its holdings in shares of CarMax by 95.4% during the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after purchasing an additional 1,326,840 shares during the period. Cooke & Bieler LP grew its holdings in shares of CarMax by 3.1% during the 4th quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock worth $179,928,000 after purchasing an additional 69,409 shares during the period. Finally, First Pacific Advisors LP grew its holdings in shares of CarMax by 0.3% during the 1st quarter. First Pacific Advisors LP now owns 2,339,026 shares of the company’s stock worth $203,753,000 after purchasing an additional 7,481 shares during the period.

CarMax Stock Performance

Shares of CarMax stock opened at $83.02 on Friday. The business has a 50-day moving average of $73.66 and a 200 day moving average of $74.44. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 32.43, a price-to-earnings-growth ratio of 1.69 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. As a group, sell-side analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current year.

Insider Activity

In other news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,243 shares of company stock worth $12,836,542. 1.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $105.00 price target on shares of CarMax in a report on Monday, June 24th. Evercore ISI increased their price target on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. lowered their price target on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Monday, April 15th. Truist Financial increased their price target on CarMax from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, June 24th. Finally, Argus upgraded CarMax to a “hold” rating in a report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, CarMax presently has an average rating of “Hold” and an average target price of $76.25.

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.