Wedge Capital Management L L P NC Sells 23,182 Shares of CarMax, Inc. (NYSE:KMX)

by · The Cerbat Gem

Wedge Capital Management L L P NC reduced its stake in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 14.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,581 shares of the company’s stock after selling 23,182 shares during the period. Wedge Capital Management L L P NC owned 0.09% of CarMax worth $11,033,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KMX. Baker Tilly Wealth Management LLC increased its stake in CarMax by 4.6% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock valued at $217,000 after acquiring an additional 130 shares during the period. GAMMA Investing LLC lifted its holdings in shares of CarMax by 6.5% during the first quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after acquiring an additional 131 shares during the period. Peoples Bank KS grew its stake in CarMax by 10.0% during the second quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock worth $108,000 after buying an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of CarMax by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock worth $456,000 after buying an additional 142 shares in the last quarter. Finally, Allegheny Financial Group LTD boosted its holdings in shares of CarMax by 4.1% in the 2nd quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after acquiring an additional 143 shares in the last quarter.

Insider Activity at CarMax

In other CarMax 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 transaction, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the transaction, the chief operating officer now directly owns 15,609 shares in the company, valued at approximately $1,249,032.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Truist Financial upped their price target on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Needham & Company LLC raised their price objective on shares of CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price target on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Finally, BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.45.

Check Out Our Latest Stock Analysis on CarMax

CarMax Trading Up 1.2 %

NYSE:KMX opened at $73.04 on Tuesday. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.46 and a beta of 1.68. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The business’s 50-day moving average price is $78.06 and its two-hundred day moving average price is $75.49. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX – Get Free Report) last announced its quarterly 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). The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, equities analysts expect that CarMax, Inc. will post 2.97 earnings per share for the current year.

CarMax Profile

(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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