CarMax, Inc. (NYSE:KMX) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its position in CarMax, Inc. (NYSE:KMX) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,647 shares of the company’s stock after acquiring an additional 951 shares during the period. Truist Financial Corp’s holdings in CarMax were worth $5,475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of CarMax by 29.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock worth $14,573,000 after acquiring an additional 37,660 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of CarMax by 10.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock worth $16,238,000 after acquiring an additional 17,557 shares during the period. Van ECK Associates Corp grew its holdings in CarMax by 38.2% during the 1st quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock valued at $4,861,000 after buying an additional 15,426 shares during the last quarter. Swedbank AB acquired a new stake in CarMax during the 1st quarter valued at $1,406,000. Finally, SG Americas Securities LLC grew its holdings in CarMax by 7.9% during the 1st quarter. SG Americas Securities LLC now owns 22,939 shares of the company’s stock valued at $1,998,000 after buying an additional 1,688 shares during the last quarter.

Insiders Place Their Bets

In other CarMax news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock worth $14,803,843 over the last quarter. 1.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KMX has been the topic of a number of analyst reports. Truist Financial increased their target price on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Needham & Company LLC increased their target price on CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th. Argus upgraded CarMax to a “hold” rating in a report on Tuesday, June 25th. StockNews.com upgraded CarMax to a “sell” rating in a report on Friday, July 26th. Finally, Morgan Stanley restated an “overweight” rating and set a $80.00 price objective on shares of CarMax in a report on Friday, June 21st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.45.

CarMax Price Performance

Shares of CarMax stock opened at $72.27 on Tuesday. CarMax, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22. The stock has a market capitalization of $11.28 billion, a P/E ratio of 28.23, a PEG ratio of 1.56 and a beta of 1.68. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The business’s fifty day moving average price is $78.94 and its 200 day moving average price is $75.99.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share 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 firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the business posted $0.75 EPS. CarMax’s revenue was down .9% compared to the same quarter last year. As a group, research analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current year.

CarMax Profile

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.