Summitry LLC Trims Stock Position in CarMax, Inc. (NYSE:KMX)

Summitry LLC decreased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 97.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,036 shares of the company’s stock after selling 781,625 shares during the period. Summitry LLC’s holdings in CarMax were worth $1,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of CarMax during the 3rd quarter valued at about $350,000. Charles Schwab Investment Management Inc. lifted its position in CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock valued at $114,471,000 after purchasing an additional 436,342 shares during the last quarter. Raymond James Trust N.A. grew its stake in CarMax by 26.3% in the 3rd quarter. Raymond James Trust N.A. now owns 10,056 shares of the company’s stock worth $778,000 after buying an additional 2,097 shares in the last quarter. Citigroup Inc. raised its position in shares of CarMax by 2.6% during the 3rd quarter. Citigroup Inc. now owns 149,448 shares of the company’s stock valued at $11,564,000 after buying an additional 3,738 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of CarMax by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 38,353 shares of the company’s stock worth $2,968,000 after acquiring an additional 21,528 shares during the last quarter.

CarMax Price Performance

Shares of CarMax stock opened at $74.30 on Wednesday. The firm has a market cap of $11.43 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The company’s fifty day simple moving average is $80.67 and its two-hundred day simple moving average is $79.37. 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.

Insider Buying and Selling

In related news, SVP Tyler Tuite sold 4,869 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of CarMax stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total transaction of $407,150.00. Following the completion of the sale, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,649,771.80. This trade represents a 19.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,709 shares of company stock valued at $8,495,379 over the last ninety days. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KMX shares. Evercore ISI lowered their price target on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. increased their price objective on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Stephens began coverage on CarMax in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price for the company. Needham & Company LLC lifted their price target on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial boosted their price objective on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.45.

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.