Asset Management One Co. Ltd. increased its stake in CarMax, Inc (NYSE:KMX) by 19.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,343 shares of the company’s stock after acquiring an additional 16,265 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of CarMax worth $8,625,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in KMX. Geode Capital Management LLC lifted its holdings in shares of CarMax by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 2,190,864 shares of the company’s stock worth $137,181,000 after acquiring an additional 140,198 shares during the period. Victory Capital Management Inc. lifted its position in shares of CarMax by 32.6% in the first quarter. Victory Capital Management Inc. now owns 55,727 shares of the company’s stock worth $3,890,000 after purchasing an additional 13,693 shares in the last quarter. First Allied Advisory Services Inc. bought a new stake in shares of CarMax in the first quarter worth $275,000. First Mercantile Trust Co. lifted its position in shares of CarMax by 180.6% in the first quarter. First Mercantile Trust Co. now owns 954 shares of the company’s stock worth $67,000 after purchasing an additional 614 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of CarMax by 3.7% in the first quarter. CIBC Asset Management Inc now owns 17,406 shares of the company’s stock worth $1,215,000 after purchasing an additional 614 shares in the last quarter.
In other CarMax news, SVP Mohammad Shamim sold 13,894 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $90.39, for a total transaction of $1,255,878.66. Following the transaction, the senior vice president now directly owns 16,718 shares in the company, valued at approximately $1,511,140.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Diane L. Cafritz sold 8,300 shares of CarMax stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total value of $732,475.00. Following the sale, the senior vice president now owns 11,706 shares in the company, valued at $1,033,054.50. The disclosure for this sale can be found here. In the last three months, insiders sold 36,893 shares of company stock valued at $3,297,447. 2.09% of the stock is currently owned by insiders.
Several equities analysts have commented on the stock. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Guggenheim upped their price objective on shares of CarMax from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Stephens increased their target price on shares of CarMax from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Wedbush reissued a “neutral” rating on shares of CarMax in a report on Thursday, October 3rd. Finally, Robert W. Baird raised their price objective on shares of CarMax from $80.00 to $99.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $95.42.
Shares of KMX stock traded up $3.12 during trading hours on Friday, hitting $90.53. 1,518,432 shares of the company were exchanged, compared to its average volume of 1,527,873. The firm has a market cap of $14.24 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.30 and a beta of 1.17. CarMax, Inc has a fifty-two week low of $55.24 and a fifty-two week high of $92.01. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.56 and a current ratio of 2.42. The company has a 50 day simple moving average of $85.21 and a two-hundred day simple moving average of $81.73.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. CarMax had a net margin of 4.60% and a return on equity of 25.50%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter last year, the firm posted $1.24 EPS. CarMax’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that CarMax, Inc will post 5.29 EPS for the current fiscal year.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in 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; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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