Meeder Asset Management Inc. Trims Holdings in CarMax, Inc. (NYSE:KMX)

Meeder Asset Management Inc. lowered its stake in shares of CarMax, Inc. (NYSE:KMX) by 67.7% in the first quarter, HoldingsChannel.com reports. The firm owned 1,037 shares of the company’s stock after selling 2,174 shares during the period. Meeder Asset Management Inc.’s holdings in CarMax were worth $90,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in CarMax by 153.3% during the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in CarMax by 1,081.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock worth $34,000 after acquiring an additional 400 shares in the last quarter. Mendota Financial Group LLC acquired a new position in CarMax during the 4th quarter worth about $37,000. MCF Advisors LLC purchased a new position in CarMax during the 4th quarter valued at about $46,000. Finally, Lindbrook Capital LLC grew its position in CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after acquiring an additional 155 shares in the last quarter.

Insider Activity

In other news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares in the company, valued at $485,110.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the sale, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,587 shares of company stock valued at $10,711,301. Insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

KMX has been the subject of several recent research reports. Truist Financial raised their price objective on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Evercore ISI decreased their price target on shares of CarMax from $73.00 to $68.00 and set an “in-line” rating for the company in a research report on Thursday, June 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Argus upgraded CarMax to a “hold” rating in a report on Tuesday, June 25th. Finally, Royal Bank of Canada boosted their target price on CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.50.

CarMax Stock Performance

KMX traded up $1.07 during trading on Monday, hitting $82.00. 1,530,530 shares of the stock were exchanged, compared to its average volume of 2,032,494. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The stock has a fifty day moving average price of $72.04 and a two-hundred day moving average price of $73.97. The firm has a market capitalization of $12.80 billion, a P/E ratio of 32.03, a PEG ratio of 1.61 and a beta of 1.69.

CarMax (NYSE:KMX) last announced its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. As a group, sell-side analysts predict that CarMax, Inc. will post 3.02 earnings per share for the current year.

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.