Amundi Boosts Stake in CarMax, Inc. $KMX

Key Points

• Amundi increased its stake in CarMax, Inc. by 16.4% during the first quarter, owning 420,114 shares valued at approximately $32.1 million.
• CarMax recently faced mixed analyst ratings; while Mizuho lowered their target price to $78, Stephens maintained an "overweight" rating with a target of $81.
• The company reported earnings of $1.38 per share, surpassing analysts' expectations, alongside a 6.1% increase in revenue year-over-year, amounting to $7.55 billion.

Amundi increased its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 420,114 shares of the company's stock after purchasing an additional 59,247 shares during the period. Amundi owned 0.28% of CarMax worth $32,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Redmond Asset Management LLC raised its position in shares of CarMax by 0.3% during the 1st quarter. Redmond Asset Management LLC now owns 50,803 shares of the company's stock worth $3,959,000 after purchasing an additional 152 shares during the last quarter. Maia Wealth LLC raised its holdings in CarMax by 0.6% in the 1st quarter. Maia Wealth LLC now owns 26,099 shares of the company's stock valued at $2,034,000 after acquiring an additional 157 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in CarMax by 5.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock valued at $262,000 after acquiring an additional 176 shares during the last quarter. Nicolet Advisory Services LLC raised its holdings in CarMax by 6.3% in the 1st quarter. Nicolet Advisory Services LLC now owns 3,576 shares of the company's stock valued at $279,000 after acquiring an additional 212 shares during the last quarter. Finally, Quarry LP raised its holdings in CarMax by 50.5% in the 1st quarter. Quarry LP now owns 694 shares of the company's stock valued at $54,000 after acquiring an additional 233 shares during the last quarter.

CarMax Trading Up 0.1%

Shares of NYSE KMX traded up $0.04 during midday trading on Tuesday, reaching $61.42. 2,237,942 shares of the stock were exchanged, compared to its average volume of 2,476,621. The company has a 50 day simple moving average of $61.00 and a 200 day simple moving average of $66.74. The stock has a market capitalization of $9.22 billion, a P/E ratio of 16.97, a PEG ratio of 1.00 and a beta of 1.35. 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 twelve month low of $54.53 and a twelve month high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results 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 net margin of 2.09% and a return on equity of 9.11%. The business's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 EPS. As a group, equities analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KMX shares. Evercore ISI cut their price objective on shares of CarMax from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Mizuho cut their price objective on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Wedbush reiterated an "outperform" rating and issued a $84.00 price objective on shares of CarMax in a report on Tuesday, August 19th. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price objective on shares of CarMax in a report on Monday, June 23rd. Finally, Truist Financial increased their price objective on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. One equities research 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 given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

Insider Buying and Selling at CarMax

In related news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

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.