2,183,121 Shares in CarMax, Inc. $KMX Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in CarMax, Inc. (NYSE:KMX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,183,121 shares of the company's stock, valued at approximately $115,465,000. Canada Pension Plan Investment Board owned 1.54% of CarMax as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Basecamp Wealth Advisors LLC increased its stake in shares of CarMax by 105.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company's stock worth $26,000 after acquiring an additional 327 shares during the period. Huntington National Bank raised its holdings in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company's stock worth $27,000 after purchasing an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in CarMax in the second quarter valued at about $28,000. Global Retirement Partners LLC acquired a new stake in CarMax in the second quarter valued at about $29,000. Finally, Wellington Grp LLC lifted its position in CarMax by 6,500.0% in the first quarter. Wellington Grp LLC now owns 726 shares of the company's stock valued at $30,000 after purchasing an additional 715 shares during the period.

CarMax Price Performance

CarMax stock opened at $63.82 on Thursday. The firm's 50-day simple moving average is $56.44 and its 200 day simple moving average is $47.37. The firm has a market capitalization of $9.06 billion, a PE ratio of 41.71, a P/E/G ratio of 2.94 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $65.28.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax's revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. On average, equities research analysts predict that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling

In other CarMax news, CEO Keith Barr acquired 9,400 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the purchase, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter J. Bensen bought 2,500 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $52.20 per share, with a total value of $130,500.00. Following the transaction, the director directly owned 24,796 shares of the company's stock, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 13,900 shares of company stock valued at $735,574. Insiders own 1.01% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KMX. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $38.00 to $60.00 in a research note on Wednesday, July 29th. Barclays raised CarMax from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $37.00 to $61.00 in a report on Tuesday, July 21st. Mizuho increased their price objective on CarMax from $38.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, June 18th. Finally, Morgan Stanley raised their target price on CarMax from $35.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.00.

CarMax 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.

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