Sumitomo Mitsui Trust Holdings Inc. Lowers Holdings in CarMax, Inc. (NYSE:KMX)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of CarMax, Inc. (NYSE:KMX) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,463 shares of the company’s stock after selling 29,266 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of CarMax worth $24,970,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KMX. BNP Paribas Financial Markets grew its position in CarMax by 16.4% during the fourth quarter. BNP Paribas Financial Markets now owns 127,402 shares of the company’s stock worth $9,777,000 after buying an additional 17,973 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of CarMax by 29.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock worth $14,573,000 after purchasing an additional 37,660 shares during the last quarter. Fairview Capital Investment Management LLC increased its position in shares of CarMax by 7.0% in the fourth quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock worth $19,302,000 after purchasing an additional 16,438 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in CarMax in the fourth quarter valued at approximately $5,637,000. Finally, Charles Schwab Investment Management Inc. lifted its position in CarMax by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company’s stock valued at $76,058,000 after purchasing an additional 30,107 shares during the last quarter.

Insider Activity

In related news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the transaction, the senior vice president now directly owns 995 shares of the company’s stock, valued at approximately $72,097.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,243 shares of company stock valued at $14,893,042. Insiders own 1.66% of the company’s stock.

CarMax Stock Performance

Shares of KMX stock opened at $80.31 on Tuesday. The company has a market capitalization of $12.53 billion, a P/E ratio of 31.37, a PEG ratio of 1.66 and a beta of 1.69. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. The stock has a 50 day moving average price of $76.35 and a two-hundred day moving average price of $75.39.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. Analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KMX shares. Mizuho decreased their price target on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Argus raised CarMax to a “hold” rating in a research note on Tuesday, June 25th. StockNews.com raised CarMax to a “sell” rating in a research note on Friday, July 26th. Evercore ISI increased their price objective on CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada raised their price objective on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.25.

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.