Brown Advisory Securities LLC Sells 3,655 Shares of CarMax, Inc. (NYSE:KMX)

Brown Advisory Securities LLC lessened its stake in shares of CarMax, Inc. (NYSE:KMXGet Rating) by 63.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,102 shares of the company’s stock after selling 3,655 shares during the quarter. Brown Advisory Securities LLC’s holdings in CarMax were worth $202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors raised its stake in CarMax by 246.3% in the 4th quarter. Capital Research Global Investors now owns 5,916,243 shares of the company’s stock worth $770,472,000 after acquiring an additional 4,207,817 shares during the last quarter. Caledonia Private Investments Pty Ltd grew its position in shares of CarMax by 24.9% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 2,306,124 shares of the company’s stock valued at $300,327,000 after acquiring an additional 460,010 shares during the period. Marshall Wace LLP boosted its holdings in CarMax by 121.7% in the 4th quarter. Marshall Wace LLP now owns 511,359 shares of the company’s stock worth $66,594,000 after buying an additional 280,673 shares during the last quarter. Kiltearn Partners LLP boosted its holdings in CarMax by 74.8% in the 1st quarter. Kiltearn Partners LLP now owns 645,000 shares of the company’s stock worth $62,230,000 after buying an additional 276,000 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in CarMax in the 4th quarter worth about $29,002,000. Institutional investors own 96.10% of the company’s stock.

Insider Buying and Selling

In other CarMax news, EVP Diane L. Cafritz sold 18,092 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $91.06, for a total value of $1,647,457.52. Following the completion of the transaction, the executive vice president now owns 4,988 shares in the company, valued at $454,207.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CarMax news, EVP Diane L. Cafritz sold 15,555 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $94.75, for a total value of $1,473,836.25. Following the completion of the transaction, the executive vice president now owns 4,988 shares in the company, valued at $472,613. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane L. Cafritz sold 18,092 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $91.06, for a total transaction of $1,647,457.52. Following the completion of the transaction, the executive vice president now owns 4,988 shares of the company’s stock, valued at approximately $454,207.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,103 shares of company stock worth $3,445,847. Corporate insiders own 1.65% of the company’s stock.

CarMax Stock Performance

Shares of KMX stock opened at $99.17 on Friday. The company has a current ratio of 2.72, a quick ratio of 0.63 and a debt-to-equity ratio of 3.29. The firm has a fifty day moving average price of $94.58 and a 200 day moving average price of $98.24. The company has a market cap of $15.78 billion, a P/E ratio of 16.84, a PEG ratio of 1.09 and a beta of 1.39. CarMax, Inc. has a 12 month low of $84.37 and a 12 month high of $155.98.

CarMax (NYSE:KMXGet Rating) last issued its earnings results on Friday, June 24th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.05. The firm had revenue of $9.31 billion during the quarter, compared to the consensus estimate of $9.38 billion. CarMax had a net margin of 2.88% and a return on equity of 18.40%. During the same quarter in the previous year, the firm posted $2.63 earnings per share. Sell-side analysts predict that CarMax, Inc. will post 5.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on KMX shares. Royal Bank of Canada raised their target price on shares of CarMax from $104.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, June 27th. Wedbush boosted their target price on CarMax from $90.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, June 27th. Needham & Company LLC began coverage on CarMax in a research report on Monday, May 2nd. They issued a “hold” rating on the stock. Morgan Stanley cut their target price on CarMax from $140.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Finally, Robert W. Baird cut their target price on CarMax from $140.00 to $120.00 in a research report on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $126.89.

CarMax Company Profile

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CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It 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.

Further Reading

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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