iA Global Asset Management Inc. Sells 9,860 Shares of CarMax, Inc. (NYSE:KMX)

iA Global Asset Management Inc. lessened its stake in CarMax, Inc. (NYSE:KMX) by 6.6% in the second quarter, HoldingsChannel reports. The firm owned 139,918 shares of the company’s stock after selling 9,860 shares during the period. iA Global Asset Management Inc.’s holdings in CarMax were worth $10,262,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. First Community Trust NA acquired a new position in shares of CarMax in the 2nd quarter valued at $29,000. Blue Trust Inc. lifted its holdings in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares in the last quarter. Headlands Technologies LLC acquired a new position in CarMax in the first quarter valued at about $55,000. Federated Hermes Inc. bought a new stake in shares of CarMax in the fourth quarter worth about $62,000. Finally, First Financial Corp IN raised its position in shares of CarMax by 127.2% during the first quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock worth $91,000 after purchasing an additional 585 shares during the period.

Insider Activity

In related news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the sale, the senior vice president now directly owns 995 shares of the company’s stock, valued at approximately $72,097.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,243 shares of company stock valued at $14,893,042. 1.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KMX shares. StockNews.com upgraded CarMax to a “sell” rating in a research report on Friday, July 26th. Truist Financial upped their price target on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Argus raised shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Finally, Evercore ISI increased their target price on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.25.

CarMax Stock Down 0.9 %

KMX stock opened at $84.55 on Friday. CarMax, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 33.03, a P/E/G ratio of 1.66 and a beta of 1.69. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The business has a 50 day moving average price of $78.69 and a two-hundred day moving average price of $76.02.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same period last year, the business earned $1.16 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. Analysts anticipate that CarMax, Inc. will post 2.99 EPS for the current fiscal year.

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.