Aberdeen Group plc Purchases 55,084 Shares of CarMax, Inc. $KMX

Key Points

• Aberdeen Group plc significantly increased its stake in CarMax, Inc. by 99.3%, owning 110,529 shares worth approximately $8.57 million after a recent purchase.
• CarMax reported earnings of $1.38 per share for the last quarter, exceeding expectations, with revenue of $7.55 billion, a 6.1% increase year-over-year.
• Analysts have mixed opinions on CarMax's stock, with a consensus target price of $81.50 and ratings ranging from "Strong Buy" to "Sell" reflecting varied forecasts on its performance.

Aberdeen Group plc lifted its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 99.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,529 shares of the company's stock after acquiring an additional 55,084 shares during the period. Aberdeen Group plc owned 0.07% of CarMax worth $8,574,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CarMax by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company's stock worth $1,571,000 after acquiring an additional 2,375 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of CarMax in the 1st quarter worth approximately $1,753,000. Sequoia Financial Advisors LLC grew its holdings in CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock valued at $262,000 after purchasing an additional 176 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of CarMax by 3.5% in the first quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock valued at $4,726,000 after buying an additional 2,078 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of CarMax by 12.6% during the 1st quarter. GAMMA Investing LLC now owns 6,620 shares of the company's stock worth $516,000 after acquiring an additional 742 shares during the period.

CarMax Stock Up 3.7%

Shares of KMX traded up $2.1260 on Friday, reaching $60.0160. The stock had a trading volume of 1,811,819 shares, compared to its average volume of 2,813,410. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. CarMax, Inc. has a 12-month low of $54.53 and a 12-month high of $91.25. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.94 and a beta of 1.36. The company has a 50-day simple moving average of $62.43 and a 200-day simple moving average of $69.00.

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

Insiders Place Their Bets

In other news, EVP Jon G. Daniels sold 1,540 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. The trade was a 35.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on KMX. Benchmark began coverage on shares of CarMax in a report on Thursday, July 17th. They issued a "buy" rating and a $75.00 price objective for the company. Stephens reiterated an "overweight" rating and set a $81.00 price objective on shares of CarMax in a research note on Tuesday. Wedbush restated an "outperform" rating and issued a $84.00 target price on shares of CarMax in a research note on Tuesday. Evercore ISI decreased their price target on CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Finally, Truist Financial raised their price objective on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.50.

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.