CarMax, Inc (NYSE:KMX) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC decreased its stake in CarMax, Inc (NYSE:KMX) by 9.6% in the 2nd quarter, Holdings Channel reports. The firm owned 4,380 shares of the company’s stock after selling 466 shares during the quarter. Meridian Wealth Management LLC’s holdings in CarMax were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gilbert & Cook Inc. acquired a new position in CarMax during the first quarter worth about $201,000. Raymond James Financial Services Advisors Inc. raised its position in CarMax by 20.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 68,207 shares of the company’s stock worth $4,761,000 after acquiring an additional 11,478 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its position in CarMax by 1.2% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 88,094 shares of the company’s stock worth $6,149,000 after acquiring an additional 1,052 shares during the last quarter. Virtu Financial LLC raised its position in CarMax by 288.3% during the first quarter. Virtu Financial LLC now owns 48,981 shares of the company’s stock worth $3,419,000 after acquiring an additional 36,368 shares during the last quarter. Finally, First Personal Financial Services raised its position in CarMax by 16.9% during the first quarter. First Personal Financial Services now owns 1,614 shares of the company’s stock worth $113,000 after acquiring an additional 233 shares during the last quarter.

In other news, SVP Diane L. Cafritz sold 8,300 shares of CarMax stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $732,475.00. Following the completion of the sale, the senior vice president now directly owns 11,706 shares in the company, valued at $1,033,054.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mohammad Shamim sold 13,894 shares of CarMax stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $90.39, for a total transaction of $1,255,878.66. Following the sale, the senior vice president now owns 16,718 shares of the company’s stock, valued at $1,511,140.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 377,047 shares of company stock valued at $31,898,938. Insiders own 2.09% of the company’s stock.

A number of equities analysts have issued reports on the stock. Wedbush set a $18.00 target price on shares of Catabasis Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, June 24th. Buckingham Research cut shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $93.00 to $81.00 in a research report on Monday, June 24th. Oppenheimer set a $11.00 target price on shares of ArQule and gave the stock a “buy” rating in a research report on Friday, June 14th. Robert W. Baird lifted their target price on shares of CarMax from $80.00 to $99.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Finally, Stephens assumed coverage on shares of Twilio in a research report on Monday, April 1st. They set a “hold” rating and a $110.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $93.81.

Shares of NYSE KMX traded down $3.17 during midday trading on Tuesday, reaching $88.17. 23,264 shares of the stock were exchanged, compared to its average volume of 1,500,964. The stock has a market capitalization of $15.10 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.38 and a beta of 1.21. CarMax, Inc has a 52-week low of $55.24 and a 52-week high of $92.01. The company has a debt-to-equity ratio of 4.20, a current ratio of 2.21 and a quick ratio of 0.49. The stock’s 50 day simple moving average is $86.34.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 21st. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.10. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.17 billion. CarMax had a net margin of 4.64% and a return on equity of 25.37%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 earnings per share. Research analysts predict that CarMax, Inc will post 5.27 earnings per share for the current year.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in 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; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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