ASR Vermogensbeheer N.V. Acquires New Holdings in CarMax, Inc. (NYSE:KMX)

Key Points

• ASR Vermogensbeheer N.V. has acquired 8,050 shares of CarMax, Inc., approximately valued at $627,000, marking a significant investment in the automotive retailer.
• CarMax's latest quarterly earnings showed $1.38 earnings per share, exceeding the consensus estimate and indicating a revenue growth of 6.1% year-over-year.
• Equities analysts have recently adjusted their price targets for CarMax, with a consensus rating of "Moderate Buy" and an average price target of $83.08 amidst various rating upgrades and downgrades.

ASR Vermogensbeheer N.V. purchased a new stake in CarMax, Inc. (NYSE:KMX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,050 shares of the company's stock, valued at approximately $627,000.

A number of other large investors also recently bought and sold shares of KMX. Accent Capital Management LLC bought a new position in CarMax during the 1st quarter worth approximately $34,000. Ameriflex Group Inc. bought a new stake in shares of CarMax in the 4th quarter worth approximately $53,000. Colonial Trust Co SC lifted its holdings in shares of CarMax by 2,310.0% in the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after purchasing an additional 693 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of CarMax by 49.2% in the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after purchasing an additional 296 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of CarMax by 38.4% in the 1st quarter. Parallel Advisors LLC now owns 937 shares of the company's stock worth $73,000 after purchasing an additional 260 shares during the last quarter.

Insider Buying and Selling

In other news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of the sale, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company's stock.

CarMax Price Performance

Shares of NYSE KMX traded up $0.70 during mid-day trading on Tuesday, reaching $56.64. The company had a trading volume of 2,284,195 shares, compared to its average volume of 3,005,976. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The stock has a market cap of $8.50 billion, a PE ratio of 15.65, a P/E/G ratio of 0.91 and a beta of 1.36. The company has a 50-day moving average price of $63.70 and a two-hundred day moving average price of $70.38. CarMax, Inc. has a 1-year low of $54.53 and a 1-year high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the business earned $0.97 EPS. The business's revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KMX. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. raised CarMax from an "underweight" rating to a "neutral" rating and cut their target price for the company from $65.00 to $58.00 in a research note on Wednesday, August 6th. Morgan Stanley initiated coverage on CarMax in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 price target for the company. Truist Financial raised their price target on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Finally, Benchmark initiated coverage on CarMax in a report on Thursday, July 17th. They set a "buy" rating and a $75.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, CarMax presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.75.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.