Summit Trail Advisors LLC Cuts Stock Position in CarMax, Inc. (NYSE:KMX)

Summit Trail Advisors LLC reduced its position in CarMax, Inc. (NYSE:KMX) by 33.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,179 shares of the company’s stock after selling 3,140 shares during the quarter. Summit Trail Advisors LLC’s holdings in CarMax were worth $474,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KMX. ProVise Management Group LLC raised its holdings in CarMax by 31.5% during the third quarter. ProVise Management Group LLC now owns 58,701 shares of the company’s stock worth $4,152,000 after purchasing an additional 14,052 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of CarMax by 61.6% during the 3rd quarter. Montag A & Associates Inc. now owns 49,985 shares of the company’s stock worth $3,535,000 after acquiring an additional 19,056 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in CarMax by 8.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 235,544 shares of the company’s stock worth $18,076,000 after acquiring an additional 18,914 shares during the last quarter. Corient Private Wealth LLC increased its position in CarMax by 6.9% during the 3rd quarter. Corient Private Wealth LLC now owns 934,259 shares of the company’s stock worth $66,080,000 after purchasing an additional 60,604 shares in the last quarter. Finally, abrdn plc lifted its stake in shares of CarMax by 70.2% during the fourth quarter. abrdn plc now owns 66,217 shares of the company’s stock valued at $5,081,000 after buying an additional 27,307 shares during the period.

Insider Transactions at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of CarMax 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 sale, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KMX. Bank of America increased their price target on shares of CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Mizuho cut their price objective on shares of CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Truist Financial dropped their price objective on shares of CarMax from $75.00 to $72.00 and set a “hold” rating on the stock in a report on Friday, April 12th. Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of CarMax in a research report on Tuesday, April 16th. Finally, Evercore ISI cut their target price on CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, CarMax presently has an average rating of “Hold” and an average price target of $77.42.

CarMax Stock Performance

Shares of CarMax stock traded up $0.61 during trading on Tuesday, hitting $70.20. 311,548 shares of the stock were exchanged, compared to its average volume of 2,012,471. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a fifty day moving average price of $77.54 and a 200-day moving average price of $72.20. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.15 and a beta of 1.64.

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

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.