Banque Cantonale Vaudoise Acquires New Shares in CarMax, Inc. (NYSE:KMX)

Key Points

• Banque Cantonale Vaudoise has made a new investment of approximately $890,000 in CarMax, acquiring 11,417 shares of the company stock.
• Several hedge funds have increased their stakes in CarMax over recent quarters, showcasing a growing institutional interest in the stock.
• CarMax's stock performance has seen fluctuations, with current prices ranging from a 12-month low of $56.41 to a high of $91.25, indicating potential volatility in the market.

Banque Cantonale Vaudoise purchased a new stake in CarMax, Inc. (NYSE:KMX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,417 shares of the company's stock, valued at approximately $890,000.

Several other institutional investors have also added to or reduced their stakes in KMX. LPL Financial LLC lifted its position in shares of CarMax by 12.0% during the 1st quarter. LPL Financial LLC now owns 223,951 shares of the company's stock worth $17,450,000 after buying an additional 23,927 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CarMax by 8.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,402 shares of the company's stock valued at $2,369,000 after buying an additional 2,386 shares during the period. Empirical Finance LLC increased its stake in shares of CarMax by 5.0% in the first quarter. Empirical Finance LLC now owns 5,697 shares of the company's stock valued at $444,000 after buying an additional 271 shares during the period. HB Wealth Management LLC boosted its position in shares of CarMax by 15.6% during the 1st quarter. HB Wealth Management LLC now owns 6,785 shares of the company's stock valued at $529,000 after purchasing an additional 918 shares in the last quarter. Finally, Heartland Advisors Inc. boosted its position in shares of CarMax by 31.4% during the 1st quarter. Heartland Advisors Inc. now owns 130,894 shares of the company's stock valued at $10,199,000 after purchasing an additional 31,297 shares in the last quarter.

CarMax Trading Down 1.1%

NYSE:KMX traded down $0.63 during mid-day trading on Friday, reaching $55.98. 3,828,338 shares of the company's stock traded hands, compared to its average volume of 2,868,409. CarMax, Inc. has a 12-month low of $55.37 and a 12-month high of $91.25. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.91 and a beta of 1.36. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. The company has a 50 day moving average price of $64.82 and a 200-day moving average price of $71.56.

CarMax (NYSE:KMX - Get Free Report) last posted its earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter 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, sell-side analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insider Activity at CarMax

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. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on KMX. Wall Street Zen upgraded CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of CarMax in a research report on Wednesday, June 18th. Evercore ISI reduced their price target on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Robert W. Baird dropped their price objective on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Cfra Research upgraded CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CarMax has an average rating of "Moderate Buy" and a consensus target price of $83.67.

CarMax Company Profile

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.