Advisory Services Network LLC Cuts Stock Position in CarMax, Inc. (NYSE:KMX) (2024)

Advisory Services Network LLC trimmed its holdings in CarMax, Inc. (NYSE:KMX – Free Report) by 19.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,805 shares of the company’s stock after selling 3,050 shares during the period. Advisory Services Network LLC’s holdings in CarMax were worth $983,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in shares of CarMax by 153.3% during the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in CarMax by 1,081.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after buying an additional 400 shares during the last quarter. Mendota Financial Group LLC purchased a new position in CarMax during the 4th quarter valued at approximately $37,000. MCF Advisors LLC bought a new stake in CarMax in the 4th quarter worth approximately $46,000. Finally, Lindbrook Capital LLC raised its holdings in shares of CarMax by 32.8% during the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after acquiring an additional 155 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on KMX shares. Needham & Company LLC reduced their target price on shares of CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of CarMax in a research note on Monday, April 8th. Robert W. Baird decreased their price target on CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a report on Friday, April 12th. Mizuho cut their price objective on shares of CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of CarMax in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.42.

View Our Latest Analysis on CarMax

Insider Activity at CarMax

In related news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at $485,110.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.66% of the stock is currently owned by insiders.

CarMax Price Performance

NYSE:KMX opened at $69.66 on Friday. The firm has a market cap of $10.96 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 1.28 and a beta of 1.64. The stock has a 50 day moving average of $74.13 and a two-hundred day moving average of $73.14. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX – Get Free Report) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13). The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.76 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. On average, analysts expect that CarMax, Inc. will post 3.12 earnings per share for the current fiscal year.

About CarMax

(Free Report)

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.

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