Avantax Advisory Services Inc. Trims Stock Holdings in CarMax, Inc. (NYSE:KMX)

Avantax Advisory Services Inc. trimmed its holdings in CarMax, Inc. (NYSE:KMX) by 34.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,937 shares of the company’s stock after selling 4,183 shares during the period. Avantax Advisory Services Inc.’s holdings in CarMax were worth $649,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cromwell Holdings LLC grew its position in shares of CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares in the last quarter. True Wealth Design LLC grew its position in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after purchasing an additional 436 shares in the last quarter. Allworth Financial LP grew its position in shares of CarMax by 62.7% during the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after purchasing an additional 249 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in shares of CarMax during the 4th quarter valued at $58,000. Finally, Larson Financial Group LLC grew its position in shares of CarMax by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after purchasing an additional 353 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Needham & Company LLC upped their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Mizuho upped their target price on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, Stephens assumed coverage on shares of CarMax in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, CarMax currently has a consensus rating of “Hold” and an average price target of $90.45.

CarMax Stock Performance

NYSE KMX opened at $71.29 on Friday. The company has a 50-day simple moving average of $80.87 and a two-hundred day simple moving average of $79.50. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.67 and a beta of 1.76.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Buying and Selling at CarMax

In other news, EVP Mohammad Shamim sold 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.77, for a total transaction of $837,700.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $983,292.26. This represents a 46.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William D. Nash sold 120,513 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $15,123,292.92. This trade represents a 39.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock worth $21,915,445 over the last three months. Company insiders own 1.66% of the company’s stock.

CarMax Company 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.