Clifford Swan Investment Counsel LLC Trims Stake in CarMax, Inc. $KMX

Clifford Swan Investment Counsel LLC lessened its position in CarMax, Inc. (NYSE:KMX) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 308,133 shares of the company’s stock after selling 15,951 shares during the quarter. Clifford Swan Investment Counsel LLC owned 0.22% of CarMax worth $16,297,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KMX. Moore Capital Management LP purchased a new stake in CarMax in the 2nd quarter worth about $652,000. Two Sigma Securities LLC grew its position in CarMax by 36.6% in the 2nd quarter. Two Sigma Securities LLC now owns 21,833 shares of the company’s stock valued at $1,155,000 after acquiring an additional 5,846 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in CarMax in the second quarter worth $50,668,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CarMax by 7.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 468,737 shares of the company’s stock worth $24,792,000 after purchasing an additional 33,851 shares during the period. Finally, United Capital Financial Advisors LLC bought a new stake in shares of CarMax during the second quarter worth $1,730,000.

Analysts Set New Price Targets

A number of research firms have recently commented on KMX. Truist Financial upped their price target on shares of CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. Royal Bank Of Canada boosted their price objective on shares of CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Robert W. Baird upped their target price on shares of CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. raised shares of CarMax from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $38.00 to $60.00 in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.00.

CarMax Stock Down 1.4%

Shares of CarMax stock opened at $61.26 on Tuesday. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 40.04, a PEG ratio of 2.84 and a beta of 1.15. The firm’s 50-day moving average is $56.97 and its two-hundred day moving average is $47.70. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $65.28.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts expect that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Activity at CarMax

In related news, Director Peter J. Bensen bought 2,500 shares of the stock in a transaction on Monday, June 22nd. The stock was bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sona Chawla bought 2,000 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were bought at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the transaction, the director directly owned 21,702 shares in the company, valued at approximately $1,158,669.78. This represents a 10.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 13,900 shares of company stock valued at $735,574 over the last ninety days. 1.01% of the stock is owned by company insiders.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.