Mohammad Shamim Sells 10,000 Shares of CarMax, Inc. (NYSE:KMX) Stock

CarMax, Inc. (NYSE:KMX) EVP Mohammad Shamim sold 10,000 shares of CarMax stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.77, for a total transaction of $837,700.00. Following the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $983,292.26. This represents a 46.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CarMax Stock Performance

Shares of KMX opened at $83.77 on Friday. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25. The stock’s 50-day simple moving average is $80.03 and its 200 day simple moving average is $78.14. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 1.74 and a beta of 1.71.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. Research analysts forecast that CarMax, Inc. will post 3.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KMX shares. Royal Bank of Canada boosted their price objective on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Needham & Company LLC increased their price target on shares of CarMax from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Truist Financial lifted their price objective on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Oppenheimer reissued an “outperform” rating and set a $105.00 target price on shares of CarMax in a research report on Friday, October 4th. Finally, BNP Paribas raised shares of CarMax to a “strong sell” rating in a report on Friday, September 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.17.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KMX. Oddo BHF Asset Management Sas purchased a new stake in shares of CarMax in the third quarter worth $2,229,000. Franklin Resources Inc. increased its stake in CarMax by 53.3% in the 3rd quarter. Franklin Resources Inc. now owns 27,362 shares of the company’s stock worth $1,999,000 after acquiring an additional 9,509 shares during the last quarter. Tidal Investments LLC increased its stake in CarMax by 141.8% in the 3rd quarter. Tidal Investments LLC now owns 13,019 shares of the company’s stock worth $1,007,000 after acquiring an additional 7,635 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of CarMax during the 3rd quarter valued at about $351,000. Finally, World Investment Advisors LLC purchased a new position in shares of CarMax during the third quarter worth about $6,942,000.

About CarMax

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.