CarMax, Inc (NYSE:KMX) Holdings Reduced by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in shares of CarMax, Inc (NYSE:KMX) by 41.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,714 shares of the company’s stock after selling 14,046 shares during the period. Hartford Investment Management Co.’s holdings in CarMax were worth $1,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KMX. Principal Financial Group Inc. lifted its position in CarMax by 4.3% in the first quarter. Principal Financial Group Inc. now owns 9,658,783 shares of the company’s stock valued at $598,264,000 after purchasing an additional 402,543 shares during the period. OppenheimerFunds Inc. lifted its position in CarMax by 7.8% in the first quarter. OppenheimerFunds Inc. now owns 4,153,877 shares of the company’s stock valued at $257,292,000 after purchasing an additional 298,982 shares during the period. Brown Advisory Inc. lifted its position in CarMax by 11.4% in the first quarter. Brown Advisory Inc. now owns 2,599,724 shares of the company’s stock valued at $161,027,000 after purchasing an additional 266,558 shares during the period. Dimensional Fund Advisors LP lifted its position in CarMax by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,282,622 shares of the company’s stock valued at $79,446,000 after purchasing an additional 86,519 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in CarMax by 28.3% in the first quarter. Kovitz Investment Group Partners LLC now owns 1,152,265 shares of the company’s stock valued at $71,371,000 after purchasing an additional 254,219 shares during the period.

Shares of CarMax stock opened at $73.08 on Friday. CarMax, Inc has a 12-month low of $57.05 and a 12-month high of $81.67. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.30 and a quick ratio of 0.54. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.09 and a beta of 1.55.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 22nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.09. CarMax had a net margin of 3.98% and a return on equity of 21.54%. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. sell-side analysts predict that CarMax, Inc will post 4.6 earnings per share for the current year.

In other news, Director Thomas J. Folliard sold 37,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $77.37, for a total transaction of $2,901,375.00. Following the completion of the transaction, the director now directly owns 211,879 shares of the company’s stock, valued at approximately $16,393,078.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas W. Reedy, Jr. sold 98,858 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $74.09, for a total transaction of $7,324,389.22. Following the transaction, the chief financial officer now directly owns 109,089 shares of the company’s stock, valued at $8,082,404.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 664,985 shares of company stock valued at $50,360,398. 1.97% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently commented on KMX shares. Morgan Stanley upgraded shares of CarMax from an “underweight” rating to an “overweight” rating in a research report on Tuesday, July 10th. Northcoast Research restated a “buy” rating and issued a $85.00 price objective on shares of CarMax in a research report on Thursday, June 28th. Credit Suisse Group raised their price objective on shares of CarMax from $81.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, June 25th. Wedbush raised their price objective on shares of CarMax from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, June 25th. Finally, ValuEngine upgraded shares of CarMax from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. CarMax presently has a consensus rating of “Buy” and a consensus price target of $83.22.

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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