BB&T Corp lessened its position in shares of CarMax Inc (NYSE:KMX) by 24.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,362 shares of the company’s stock after selling 1,378 shares during the period. BB&T Corp’s holdings in CarMax were worth $331,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of KMX. Nordea Investment Management AB boosted its holdings in shares of CarMax by 751.0% during the second quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock worth $135,465,000 after acquiring an additional 1,895,763 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of CarMax by 8.3% during the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock worth $578,702,000 after acquiring an additional 706,369 shares during the period. UBS Oconnor LLC bought a new stake in shares of CarMax during the second quarter worth approximately $44,142,000. Balyasny Asset Management LLC boosted its holdings in shares of CarMax by 543.5% during the second quarter. Balyasny Asset Management LLC now owns 638,700 shares of the company’s stock worth $40,276,000 after acquiring an additional 539,451 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in shares of CarMax by 66.5% during the second quarter. William Blair Investment Management LLC now owns 1,331,836 shares of the company’s stock worth $83,986,000 after acquiring an additional 531,937 shares during the period.
A number of equities research analysts have recently issued reports on KMX shares. Zacks Investment Research cut CarMax from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Wedbush restated an “outperform” rating and set a $77.00 price objective (up previously from $73.00) on shares of CarMax in a report on Wednesday, September 13th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of CarMax in a report on Friday, September 1st. Goldman Sachs Group, Inc. (The) cut CarMax from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $74.00 to $79.00 in a report on Monday, September 25th. Finally, Berenberg Bank started coverage on CarMax in a report on Wednesday, October 4th. They set a “hold” rating and a $83.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.93.
In other CarMax news, Director Thomas J. Folliard sold 16,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $68.39, for a total value of $1,094,240.00. Following the sale, the director now directly owns 495,572 shares in the company, valued at approximately $33,892,169.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Diane L. Cafritz sold 5,671 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $73.95, for a total transaction of $419,370.45. Following the completion of the sale, the senior vice president now owns 7,475 shares in the company, valued at $552,776.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 584,502 shares of company stock valued at $43,183,127. 1.70% of the stock is owned by insiders.
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CarMax (NYSE:KMX) last released its quarterly earnings data on Friday, September 22nd. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.03. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.26 billion. CarMax had a net margin of 4.09% and a return on equity of 21.88%. CarMax’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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