Procyon Advisors LLC Reduces Stake in CarMax, Inc. (NYSE:KMX)

Procyon Advisors LLC lowered its holdings in CarMax, Inc. (NYSE:KMX) by 7.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 13,572 shares of the company’s stock after selling 1,170 shares during the quarter. Procyon Advisors LLC’s holdings in CarMax were worth $1,042,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairfield Bush & CO. bought a new position in shares of CarMax in the 1st quarter worth approximately $106,000. American Century Companies Inc. increased its position in CarMax by 11.8% during the 1st quarter. American Century Companies Inc. now owns 23,475 shares of the company’s stock valued at $2,264,000 after buying an additional 2,483 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of CarMax by 80.1% in the 1st quarter. Panagora Asset Management Inc. now owns 16,980 shares of the company’s stock worth $1,638,000 after purchasing an additional 7,550 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of CarMax by 6.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,633 shares of the company’s stock worth $2,087,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of CarMax by 1.2% in the 1st quarter. Yousif Capital Management LLC now owns 26,032 shares of the company’s stock worth $2,512,000 after purchasing an additional 299 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KMX. Bank of America raised their price target on CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Truist Financial boosted their price objective on CarMax from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, December 22nd. JPMorgan Chase & Co. reduced their target price on CarMax from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Wednesday, November 29th. Royal Bank of Canada boosted their price objective on CarMax from $80.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, December 22nd. Finally, Needham & Company LLC upgraded CarMax from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $80.42.

CarMax Price Performance

Shares of KMX stock traded up $0.63 during mid-day trading on Thursday, hitting $87.61. 333,453 shares of the stock were exchanged, compared to its average volume of 1,668,538. The firm has a fifty day moving average of $76.16 and a 200 day moving average of $72.08. The company has a quick ratio of 0.71, a current ratio of 2.45 and a debt-to-equity ratio of 3.01. CarMax, Inc. has a 52-week low of $58.22 and a 52-week high of $88.22. The company has a market cap of $13.83 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61.

Insider Transactions at CarMax

In related news, VP Jill A. Livesay sold 14,199 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the transaction, the vice president now directly owns 9,068 shares of the company’s stock, valued at approximately $642,830.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the completion of the sale, the vice president now owns 9,068 shares in the company, valued at approximately $642,830.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Diane L. Cafritz sold 22,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the completion of the sale, the executive vice president now owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The disclosure for this sale can be found here. Insiders have sold a total of 38,929 shares of company stock valued at $2,740,901 in the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

CarMax Profile

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.