Redmond Asset Management LLC Sells 1,729 Shares of CarMax, Inc. (NYSE:KMX)

Redmond Asset Management LLC cut its holdings in CarMax, Inc. (NYSE:KMX) by 3.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 50,651 shares of the company’s stock after selling 1,729 shares during the quarter. CarMax comprises 1.0% of Redmond Asset Management LLC’s holdings, making the stock its 25th biggest position. Redmond Asset Management LLC’s holdings in CarMax were worth $4,141,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Lakewood Asset Management LLC raised its position in CarMax by 0.6% in the 4th quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company’s stock valued at $1,778,000 after buying an additional 135 shares during the last quarter. Arete Wealth Advisors LLC raised its holdings in shares of CarMax by 4.3% in the third quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company’s stock valued at $266,000 after purchasing an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of CarMax by 3.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company’s stock worth $383,000 after purchasing an additional 141 shares in the last quarter. Timber Creek Capital Management LLC boosted its holdings in CarMax by 0.3% during the fourth quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company’s stock worth $4,709,000 after purchasing an additional 145 shares during the last quarter. Finally, Chemistry Wealth Management LLC grew its position in CarMax by 1.4% in the fourth quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company’s stock valued at $999,000 after purchasing an additional 164 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KMX shares. Evercore ISI upgraded shares of CarMax from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $90.00 to $110.00 in a research note on Thursday, February 6th. Truist Financial increased their price target on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Mizuho raised their price target on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Finally, StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, CarMax presently has a consensus rating of “Hold” and an average price target of $87.50.

CarMax Stock Down 3.5 %

Shares of KMX opened at $82.62 on Friday. CarMax, Inc. has a 52 week low of $65.83 and a 52 week high of $91.25. The firm’s 50-day simple moving average is $83.39 and its 200 day simple moving average is $80.08. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The firm has a market cap of $12.71 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 1.67 and a beta of 1.72.

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

Insider Activity

In other news, EVP James Lyski sold 57,986 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $81.35, for a total transaction of $4,717,161.10. Following the completion of the sale, the executive vice president now directly owns 22,803 shares in the company, valued at approximately $1,855,024.05. This represents a 71.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total value of $10,031,502.12. Following the completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at $15,123,292.92. The trade was a 39.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,467 shares of company stock worth $21,915,445. Corporate insiders own 1.66% of the company’s stock.

CarMax 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.