Wedbush Securities Inc. Cuts Stake in CarMax, Inc. (NYSE:KMX)

Wedbush Securities Inc. trimmed its stake in CarMax, Inc. (NYSE:KMX) by 33.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,847 shares of the company’s stock after selling 1,929 shares during the quarter. Wedbush Securities Inc.’s holdings in CarMax were worth $300,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of KMX. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CarMax by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company’s stock worth $1,571,000 after buying an additional 2,375 shares during the period. Teacher Retirement System of Texas purchased a new stake in CarMax during the first quarter valued at about $1,753,000. Sequoia Financial Advisors LLC increased its stake in CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock worth $262,000 after acquiring an additional 176 shares during the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of CarMax by 128.6% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 8,793 shares of the company’s stock worth $719,000 after purchasing an additional 4,947 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in shares of CarMax by 3.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company’s stock valued at $4,726,000 after purchasing an additional 2,078 shares in the last quarter.

CarMax Price Performance

KMX stock opened at $60.73 on Monday. The stock’s 50 day moving average is $65.49 and its two-hundred day moving average is $72.24. CarMax, Inc. has a 52-week low of $59.96 and a 52-week high of $91.25. The company has a market capitalization of $9.11 billion, a PE ratio of 16.77, a P/E/G ratio of 0.98 and a beta of 1.38. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KMX. Robert W. Baird dropped their target price on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of CarMax in a report on Wednesday, June 18th. Cfra Research raised shares of CarMax to a “strong-buy” rating in a research report on Thursday, April 10th. Finally, Mizuho cut their price objective on CarMax from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insider Buying and Selling at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

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.