Parkside Financial Bank & Trust reduced its position in shares of CarMax, Inc. (NYSE:KMX – Get Rating) by 45.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 290 shares of the company's stock after selling 240 shares during the quarter. Parkside Financial Bank & Trust's holdings in CarMax were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KMX. Private Advisor Group LLC raised its holdings in CarMax by 54.3% during the 1st quarter. Private Advisor Group LLC now owns 20,311 shares of the company's stock valued at $1,960,000 after buying an additional 7,144 shares during the period. Swiss National Bank raised its holdings in CarMax by 13.4% during the 1st quarter. Swiss National Bank now owns 702,153 shares of the company's stock valued at $67,744,000 after buying an additional 82,800 shares during the period. Coldstream Capital Management Inc. purchased a new stake in CarMax during the 1st quarter valued at $236,000. Stratos Wealth Partners LTD. raised its holdings in CarMax by 53.9% during the 1st quarter. Stratos Wealth Partners LTD. now owns 2,449 shares of the company's stock valued at $236,000 after buying an additional 858 shares during the period. Finally, Tobam raised its holdings in CarMax by 25.9% during the 1st quarter. Tobam now owns 699 shares of the company's stock valued at $67,000 after buying an additional 144 shares during the period. 96.11% of the stock is currently owned by institutional investors.

CarMax Stock Performance

Shares of CarMax stock opened at $79.49 on Friday. The firm has a market cap of $12.65 billion, a P/E ratio of 13.50, a P/E/G ratio of 2.22 and a beta of 1.40. The company has a current ratio of 2.72, a quick ratio of 0.63 and a debt-to-equity ratio of 3.29. CarMax, Inc. has a 12 month low of $76.00 and a 12 month high of $155.98. The stock's fifty day moving average price is $92.74 and its 200-day moving average price is $94.23.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KMX shares. Bank of America lowered CarMax from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $146.00 to $100.00 in a report on Friday, September 9th. Morgan Stanley reduced their target price on CarMax from $140.00 to $124.00 and set an "overweight" rating on the stock in a research note on Thursday, July 14th. Wedbush increased their target price on CarMax from $90.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, June 27th. Royal Bank of Canada increased their target price on CarMax from $104.00 to $108.00 and gave the stock an "outperform" rating in a research note on Monday, June 27th. Finally, JPMorgan Chase & Co. reduced their target price on CarMax from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Friday, September 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, CarMax presently has a consensus rating of "Hold" and a consensus target price of $118.56.

Insider Activity at CarMax

In related news, EVP Mohammad Shamim sold 3,456 shares of the firm's stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $93.91, for a total transaction of $324,552.96. Following the sale, the executive vice president now owns 8,769 shares of the company's stock, valued at $823,496.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Mohammad Shamim sold 3,456 shares of the firm's stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $93.91, for a total transaction of $324,552.96. Following the sale, the executive vice president now owns 8,769 shares of the company's stock, valued at $823,496.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Diane L. Cafritz sold 15,555 shares of the firm's stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $94.75, for a total value of $1,473,836.25. Following the sale, the executive vice president now directly owns 4,988 shares in the company, valued at approximately $472,613. The disclosure for this sale can be found here. Insiders have sold a total of 37,103 shares of company stock valued at $3,445,847 over the last quarter. 1.65% of the stock is owned by corporate insiders.

About CarMax

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CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through 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, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

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