CarMax, Inc. $KMX Shares Acquired by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. increased its CarMax stake by 28.1% in the first quarter, buying 34,211 additional shares and ending with 156,121 shares worth about $6.49 million.
• CarMax reported stronger-than-expected quarterly results, with EPS of $1.31 versus $0.96 expected and revenue of $8.01 billion, up 6.2% year over year.
• Recent activity also showed insider buying, including purchases by directors Peter J. Bensen and Sona Chawla, while analysts currently have a consensus rating of “Reduce” with an average target price of $47.73.

Bessemer Group Inc. boosted its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 28.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 156,121 shares of the company's stock after purchasing an additional 34,211 shares during the period. Bessemer Group Inc. owned about 0.11% of CarMax worth $6,491,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in KMX. CYBER HORNET ETFs LLC purchased a new stake in CarMax during the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc purchased a new position in CarMax in the 2nd quarter valued at approximately $30,000. Huntington National Bank boosted its position in CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company's stock valued at $27,000 after buying an additional 265 shares during the period. Advisory Services Network LLC acquired a new position in shares of CarMax in the third quarter worth $32,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of CarMax in the fourth quarter worth $33,000.

CarMax Price Performance

KMX stock opened at $57.37 on Monday. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $8.14 billion, a P/E ratio of 37.50, a PEG ratio of 1.85 and a beta of 1.17. The business has a 50 day simple moving average of $47.73 and a 200-day simple moving average of $44.57. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $63.74.

CarMax (NYSE:KMX - Get Free Report) last announced its earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion during the quarter, compared to analysts' expectations of $7.42 billion. During the same period in the prior year, the company earned $1.38 earnings per share. The business's revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that CarMax, Inc. will post 2.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KMX. Robert W. Baird lifted their target price on CarMax from $48.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, June 18th. Mizuho upped their price target on CarMax from $38.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, June 18th. Benchmark reaffirmed a "hold" rating on shares of CarMax in a research report on Thursday, June 18th. Morgan Stanley lifted their price objective on CarMax from $35.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 23rd. Finally, Evercore set a $45.00 price objective on CarMax in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $47.73.

Insiders Place Their Bets

In other CarMax news, Director Peter J. Bensen acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the transaction, the director directly owned 24,796 shares of the company's stock, valued at approximately $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sona Chawla bought 2,000 shares of the business's stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director owned 21,702 shares of the company's stock, valued at $1,158,669.78. The trade was a 10.15% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 13,900 shares of company stock worth $735,574. Corporate insiders own 1.01% of the company's stock.

About CarMax

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.

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