Clearstead Trust LLC Reduces Stock Position in CarMax, Inc. (NYSE:KMX)

Clearstead Trust LLC lessened its stake in shares of CarMax, Inc. (NYSE:KMX) by 40.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,925 shares of the company’s stock after selling 2,650 shares during the quarter. Clearstead Trust LLC’s holdings in CarMax were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. increased its position in CarMax by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock worth $392,458,000 after purchasing an additional 210,440 shares in the last quarter. Invesco Ltd. increased its position in CarMax by 3.1% during the 3rd quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock worth $207,843,000 after purchasing an additional 88,488 shares in the last quarter. Cooke & Bieler LP increased its position in CarMax by 3.1% during the 4th quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock worth $179,928,000 after purchasing an additional 69,409 shares in the last quarter. Northern Trust Corp grew its holdings in CarMax by 3.2% in the 3rd quarter. Northern Trust Corp now owns 1,570,993 shares of the company’s stock valued at $111,116,000 after buying an additional 48,879 shares during the period. Finally, Giverny Capital Inc. increased its stake in shares of CarMax by 1.3% during the 3rd quarter. Giverny Capital Inc. now owns 1,520,438 shares of the company’s stock valued at $107,541,000 after acquiring an additional 20,198 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KMX shares. Bank of America upped their price target on shares of CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Truist Financial cut their target price on CarMax from $75.00 to $72.00 and set a “hold” rating on the stock in a research report on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 target price on shares of CarMax in a report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price target on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Monday, April 15th. Finally, Robert W. Baird reduced their price objective on CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.42.

Insider Activity at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.66% of the company’s stock.

CarMax Stock Up 1.0 %

Shares of KMX traded up $0.67 during midday trading on Friday, hitting $68.71. The company had a trading volume of 1,860,154 shares, compared to its average volume of 3,032,100. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The company’s 50 day moving average price is $77.62 and its 200 day moving average price is $72.11. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.15 and a beta of 1.64.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the company earned $0.44 EPS. CarMax’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts predict that CarMax, Inc. will post 3.27 EPS for the current year.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.