B. Metzler seel. Sohn & Co. AG bought a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 36,090 shares of the company's stock, valued at approximately $1,909,000.
Other institutional investors have also recently added to or reduced their stakes in the company. SRS Investment Management LLC boosted its holdings in shares of CarMax by 1,717.5% in the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company's stock worth $217,845,000 after acquiring an additional 5,327,603 shares in the last quarter. AQR Capital Management LLC increased its holdings in CarMax by 151.8% during the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company's stock valued at $306,429,000 after purchasing an additional 4,780,903 shares in the last quarter. Norges Bank acquired a new stake in CarMax during the 4th quarter valued at $159,232,000. Arrowstreet Capital Limited Partnership raised its position in CarMax by 73.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company's stock valued at $158,074,000 after purchasing an additional 1,494,205 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in CarMax in the 1st quarter valued at $48,634,000.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Barclays upgraded CarMax from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $37.00 to $61.00 in a research note on Tuesday, July 21st. JPMorgan Chase & Co. upgraded shares of CarMax from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $38.00 to $60.00 in a research report on Wednesday, July 29th. Royal Bank Of Canada raised their price objective on shares of CarMax from $41.00 to $45.00 and gave the company a "sector perform" rating in a research report on Thursday, June 18th. Mizuho boosted their target price on shares of CarMax from $38.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of CarMax from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $51.00.
Check Out Our Latest Analysis on KMX
Insider Buying and Selling at CarMax
In other CarMax news, CEO Keith Barr purchased 9,400 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $53.01 per share, with a total value of $498,294.00. Following the completion of the purchase, the chief executive officer directly owned 33,375 shares in the company, valued at approximately $1,769,208.75. This represents a 39.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter J. Bensen purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $52.20 per share, with a total value of $130,500.00. Following the completion of the purchase, the director owned 24,796 shares of the company's stock, valued at $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 13,900 shares of company stock worth $735,574. Company insiders own 1.01% of the company's stock.
CarMax Trading Up 1.8%
Shares of KMX opened at $62.14 on Friday. The company has a quick ratio of 0.82, a current ratio of 2.70 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 $63.00. The firm has a market capitalization of $8.82 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 2.84 and a beta of 1.15. The stock's fifty day simple moving average is $55.65 and its 200-day simple moving average is $46.98.
CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.35. The business had revenue of $8.01 billion for the quarter, compared to analysts' expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The firm's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. As a group, research analysts predict that CarMax, Inc. will post 2.73 earnings per share for the current year.
About CarMax
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding KMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarMax, Inc. (NYSE:KMX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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