Macquarie Group Ltd. Sells 500 Shares of CarMax, Inc (KMX)

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Macquarie Group Ltd. trimmed its holdings in CarMax, Inc (NYSE:KMX) by 10.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,100 shares of the company’s stock after selling 500 shares during the quarter. Macquarie Group Ltd.’s holdings in CarMax were worth $257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KMX. Makaira Partners LLC acquired a new stake in shares of CarMax in the fourth quarter valued at about $46,107,000. Squarepoint Ops LLC acquired a new stake in shares of CarMax in the fourth quarter valued at about $23,619,000. Deutsche Bank AG raised its position in shares of CarMax by 141.9% in the third quarter. Deutsche Bank AG now owns 597,039 shares of the company’s stock valued at $44,572,000 after buying an additional 350,274 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of CarMax in the fourth quarter valued at about $17,788,000. Finally, Dimensional Fund Advisors LP raised its position in shares of CarMax by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,504,891 shares of the company’s stock valued at $94,404,000 after buying an additional 258,689 shares during the last quarter.

Shares of KMX opened at $75.03 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 2.45 and a debt-to-equity ratio of 4.11. CarMax, Inc has a 12-month low of $55.24 and a 12-month high of $81.67. The stock has a market capitalization of $12.69 billion, a P/E ratio of 15.57, a PEG ratio of 1.04 and a beta of 1.28.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, March 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.09. CarMax had a net margin of 4.64% and a return on equity of 24.67%. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. CarMax’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that CarMax, Inc will post 5.12 EPS for the current year.

A number of brokerages have recently commented on KMX. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating in a research report on Monday. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $83.00 to $93.00 in a research report on Monday, April 1st. Buckingham Research increased their target price on shares of CarMax from $76.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Wedbush cut shares of CarMax from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $70.00 to $60.00 in a research report on Friday, January 18th. Finally, ValuEngine raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $81.91.

In other CarMax news, Director Thomas J. Folliard sold 360,006 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $71.18, for a total transaction of $25,625,227.08. Following the completion of the transaction, the director now owns 511,879 shares of the company’s stock, valued at $36,435,547.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Diane L. Cafritz sold 3,484 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $71.04, for a total transaction of $247,503.36. Following the transaction, the senior vice president now directly owns 11,331 shares of the company’s stock, valued at approximately $804,954.24. The disclosure for this sale can be found here. Insiders sold 363,655 shares of company stock valued at $25,882,838 in the last three months. 1.97% of the stock is currently owned by insiders.

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About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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