Canada Pension Plan Investment Board Purchases 59,000 Shares of CarMax, Inc. $KMX

Key Points

• Canada Pension Plan Investment Board increased its holdings in CarMax, Inc. by 93.9% during the first quarter, now owning 121,800 shares valued at approximately $9.49 million.
• Insider activity included EVP Jon G. Daniels selling 1,540 shares for $70.64 each, reducing his position by 35.66%.
• Analysts have mixed ratings for CarMax, with target prices ranging from $58.00 to $92.00, reflecting a general expectation for the company's performance in the coming year.

Canada Pension Plan Investment Board boosted its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 93.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,800 shares of the company's stock after buying an additional 59,000 shares during the period. Canada Pension Plan Investment Board owned approximately 0.08% of CarMax worth $9,491,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of KMX. Lido Advisors LLC acquired a new stake in CarMax in the fourth quarter worth $254,000. Schonfeld Strategic Advisors LLC raised its holdings in CarMax by 109.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 9,597 shares of the company's stock worth $785,000 after purchasing an additional 5,007 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in CarMax by 49.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,078 shares of the company's stock worth $1,315,000 after purchasing an additional 5,329 shares during the period. Algert Global LLC raised its holdings in CarMax by 1,341.0% in the fourth quarter. Algert Global LLC now owns 70,896 shares of the company's stock worth $5,796,000 after purchasing an additional 65,976 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in CarMax by 56.3% in the fourth quarter. BNP Paribas Financial Markets now owns 339,931 shares of the company's stock worth $27,793,000 after purchasing an additional 122,418 shares during the period.

CarMax Stock Performance

Shares of KMX stock traded down $0.20 during midday trading on Friday, hitting $60.75. 2,367,303 shares of the company were exchanged, compared to its average volume of 2,422,317. The firm has a market capitalization of $9.12 billion, a P/E ratio of 16.78, a PEG ratio of 0.99 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. The firm's 50 day moving average price is $61.30 and its two-hundred day moving average price is $67.06. CarMax, Inc. has a 52 week low of $54.53 and a 52 week high of $91.25.

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, beating analysts' consensus estimates of $1.18 by $0.20. The firm 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 for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 EPS. As a group, equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wedbush reissued an "outperform" rating and set a $84.00 price objective on shares of CarMax in a research report on Tuesday, August 19th. Needham & Company LLC reissued a "buy" rating and set a $92.00 price objective on shares of CarMax in a research report on Monday, June 23rd. Benchmark began coverage on shares of CarMax in a research report on Thursday, July 17th. They set a "buy" rating and a $75.00 price objective for the company. Stephens reaffirmed an "overweight" rating and issued a $81.00 target price on shares of CarMax in a research report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. raised shares of CarMax from an "underweight" rating to a "neutral" rating and decreased their price objective for the company from $65.00 to $58.00 in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the sale, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

CarMax 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.