American Century Companies Inc. Has $91.61 Million Stock Position in CarMax, Inc. $KMX

Key Points

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American Century Companies Inc. grew its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,175,696 shares of the company's stock after buying an additional 6,704 shares during the period. American Century Companies Inc. owned approximately 0.77% of CarMax worth $91,610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMX. Kovitz Investment Group Partners LLC boosted its holdings in CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after buying an additional 5,122,850 shares during the last quarter. AQR Capital Management LLC boosted its holdings in CarMax by 82.9% during the fourth quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock worth $114,465,000 after buying an additional 634,390 shares during the last quarter. GAMMA Investing LLC boosted its holdings in CarMax by 8,675.6% during the first quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock worth $40,193,000 after buying an additional 509,952 shares during the last quarter. ThornTree Capital Partners LP bought a new position in CarMax during the fourth quarter worth about $35,612,000. Finally, Nuveen LLC bought a new position in CarMax during the first quarter worth about $33,872,000.

Wall Street Analyst Weigh In

KMX has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and cut their price objective for the company from $65.00 to $58.00 in a report on Wednesday, August 6th. Wall Street Zen upgraded CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "buy" rating and set a $92.00 price objective on shares of CarMax in a report on Monday, June 23rd. Truist Financial lifted their price objective on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Finally, Wedbush reiterated an "outperform" rating and set a $84.00 price objective on shares of CarMax in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Insider Buying and Selling

In other CarMax 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 owned 2,779 shares in the company, valued at approximately $196,308.56. The trade was a 35.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company's stock.

CarMax Stock Up 0.1%

NYSE KMX traded up $0.0690 during trading on Thursday, hitting $57.8790. The stock had a trading volume of 1,585,796 shares, compared to its average volume of 2,940,283. The company has a market capitalization of $8.69 billion, a PE ratio of 15.99, a P/E/G ratio of 0.96 and a beta of 1.36. The company's 50-day moving average price is $62.69 and its two-hundred day moving average price is $69.35. 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.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.18 by $0.20. The firm had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 EPS. As a group, sell-side analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

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.