Alpha Omega Wealth Management LLC Cuts Stock Position in CarMax, Inc. (NYSE:KMX)

Alpha Omega Wealth Management LLC decreased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,355 shares of the company’s stock after selling 1,760 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in CarMax were worth $4,283,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in shares of CarMax by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 16,706 shares of the company’s stock valued at $1,282,000 after acquiring an additional 212 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of CarMax by 6.5% in the 4th quarter. TD Asset Management Inc now owns 41,855 shares of the company’s stock valued at $3,212,000 after purchasing an additional 2,550 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of CarMax by 32.6% in the 4th quarter. Bank of Nova Scotia now owns 20,989 shares of the company’s stock worth $1,611,000 after purchasing an additional 5,160 shares during the period. California State Teachers Retirement System increased its position in shares of CarMax by 0.8% during the 4th quarter. California State Teachers Retirement System now owns 247,611 shares of the company’s stock valued at $19,002,000 after purchasing an additional 2,051 shares during the last quarter. Finally, KBC Group NV raised its holdings in CarMax by 10.3% during the 4th quarter. KBC Group NV now owns 23,879 shares of the company’s stock valued at $1,833,000 after buying an additional 2,235 shares during the period.

CarMax Price Performance

KMX opened at $74.19 on Friday. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 1.56 and a beta of 1.69. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The business’s fifty day simple moving average is $79.51 and its 200-day simple moving average is $76.23.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the business posted $0.75 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

KMX has been the subject of several recent analyst reports. Mizuho dropped their price objective on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Morgan Stanley reiterated an “overweight” rating and set a $80.00 price target on shares of CarMax in a report on Friday, June 21st. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of CarMax in a research report on Tuesday, September 17th. Argus upgraded CarMax to a “hold” rating in a report on Tuesday, June 25th. Finally, Truist Financial raised their price target on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.45.

Insider Buying and Selling

In other news, CEO William D. Nash sold 120,000 shares of CarMax 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 transaction, the chief executive officer now directly 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 available at this hyperlink. In other news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of CarMax stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total transaction of $777,680.28. Following the completion of the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,690,899.60. The disclosure for this sale can be found here. Insiders sold 184,012 shares of company stock valued at $14,803,843 over the last 90 days. Corporate insiders own 1.66% 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.