23,992 Shares in CarMax, Inc. $KMX Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC purchased 23,992 CarMax shares worth approximately $1.26 million during the second quarter, while several other institutional investors also initiated or increased positions.
• CarMax exceeded quarterly expectations, reporting $1.31 in EPS versus the $0.96 consensus estimate and $8.01 billion in revenue, up 6.2% year over year.
• Insiders bought 13,900 shares worth about $735,574 over the past 90 days. Analysts maintain a consensus “Hold” rating, with an average price target of $51 compared with the reported share price of $61.26.

Hsbc Holdings PLC bought a new position in CarMax, Inc. (NYSE:KMX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 23,992 shares of the company's stock, valued at approximately $1,260,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Basecamp Wealth Advisors LLC lifted its position in CarMax by 105.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company's stock valued at $26,000 after buying an additional 327 shares during the period. Huntington National Bank grew its position in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company's stock worth $27,000 after buying an additional 265 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of CarMax in the 2nd quarter worth about $28,000. Global Retirement Partners LLC bought a new position in shares of CarMax in the 2nd quarter worth about $29,000. Finally, Wellington Grp LLC lifted its position in CarMax by 6,500.0% during the 1st quarter. Wellington Grp LLC now owns 726 shares of the company's stock valued at $30,000 after acquiring an additional 715 shares during the period.

CarMax Stock Performance

Shares of KMX opened at $61.26 on Tuesday. The business's fifty day simple moving average is $56.97 and its two-hundred day simple moving average is $47.70. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $65.28. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 40.04, a P/E/G ratio of 2.84 and a beta of 1.15.

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

Insider Activity at CarMax

In other CarMax news, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction that occurred 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 acquisition, the chief executive officer owned 33,375 shares of the company's stock, valued at $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sona Chawla bought 2,000 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director owned 21,702 shares in the company, valued at $1,158,669.78. The trade was a 10.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 13,900 shares of company stock valued at $735,574 over the last ninety days. Insiders own 1.01% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on KMX. Robert W. Baird boosted their price objective on shares of CarMax from $48.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, June 18th. Truist Financial raised their target price on shares of CarMax from $47.00 to $50.00 and gave the company a "hold" rating in a research note on Thursday, June 18th. Barclays upgraded shares of CarMax from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $37.00 to $61.00 in a report on Tuesday, July 21st. Weiss Ratings raised CarMax from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 20th. Finally, Morgan Stanley boosted their price target on CarMax from $35.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $51.00.

CarMax Company 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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