Sheets Smith Wealth Management Maintains Position in CarMax Inc (KMX)

Sheets Smith Wealth Management continued to hold its position in shares of CarMax Inc (NYSE:KMX) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 51,200 shares of the company’s stock at the end of the second quarter. CarMax makes up about 0.9% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 29th largest position. Sheets Smith Wealth Management’s holdings in CarMax were worth $3,229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KMX. Thrivent Financial for Lutherans raised its position in shares of CarMax by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,630 shares of the company’s stock valued at $427,000 after buying an additional 370 shares in the last quarter. Quadrature Capital Ltd bought a new position in CarMax during the fourth quarter worth $373,000. Hudson Bay Capital Management LP bought a new position in CarMax during the fourth quarter worth $773,000. Teachers Advisors LLC raised its position in CarMax by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 255,508 shares of the company’s stock worth $16,452,000 after buying an additional 14,602 shares during the period. Finally, Kentucky Retirement Systems bought a new position in CarMax during the fourth quarter worth $889,000.

CarMax Inc (KMX) traded down 0.70% during mid-day trading on Tuesday, reaching $65.37. The company’s stock had a trading volume of 424,016 shares. The company’s 50-day moving average price is $63.73 and its 200 day moving average price is $62.81. CarMax Inc has a 52 week low of $47.50 and a 52 week high of $69.11. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of 18.77 and a beta of 1.34.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 21st. The company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.15. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. CarMax’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. On average, equities analysts forecast that CarMax Inc will post $3.70 earnings per share for the current fiscal year.

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A number of research firms have commented on KMX. UBS AG lowered CarMax from a “positive” rating to a “neutral” rating in a report on Thursday, June 22nd. Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine downgraded CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Wedbush set a $73.00 target price on CarMax and gave the company a “buy” rating in a research report on Tuesday, July 11th. Finally, Credit Suisse Group set a $75.00 target price on CarMax and gave the company a “buy” rating in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. CarMax has an average rating of “Buy” and an average price target of $69.00.

In other news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of CarMax stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $66.87, for a total value of $573,945.21. Following the transaction, the chief financial officer now owns 70,522 shares of the company’s stock, valued at approximately $4,715,806.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 50,000 shares of CarMax stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $61.41, for a total transaction of $3,070,500.00. Following the completion of the transaction, the director now directly owns 509,166 shares in the company, valued at approximately $31,267,884.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,515 shares of company stock worth $12,085,019. 1.90% of the stock is owned by corporate insiders.

CarMax Company Profile

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.