CarMax, Inc. $KMX Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its CarMax stake by 7.8% in the second quarter, adding 33,851 shares to own 468,737 shares valued at approximately $24.8 million, or 0.33% of the company.
• Analyst sentiment remains mixed: CarMax has a consensus “Hold” rating and a $51 average price target, despite recent upgrades from Morgan Stanley, Baird, RBC and Zacks Research.
• CarMax reported quarterly EPS of $1.31 versus the $0.96 estimate, while revenue reached $8.01 billion, up 6.2% year over year. Shares opened at $62.54, near the company’s 52-week high of $65.28, and company insiders purchased 13,900 shares worth $735,574 over the past three months.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 7.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 468,737 shares of the company's stock after buying an additional 33,851 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.33% of CarMax worth $24,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CarMax by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock worth $2,446,000 after purchasing an additional 173 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock valued at $419,000 after buying an additional 161 shares during the last quarter. Empowered Funds LLC raised its stake in CarMax by 12.5% during the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company's stock worth $411,000 after acquiring an additional 585 shares in the last quarter. Intech Investment Management LLC raised its stake in CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company's stock worth $1,492,000 after acquiring an additional 7,307 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in CarMax in the first quarter valued at $727,000.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of CarMax from $35.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 23rd. Robert W. Baird boosted 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. Royal Bank Of Canada upped their target price on CarMax from $41.00 to $45.00 and gave the company a "sector perform" rating in a research report on Thursday, June 18th. Zacks Research raised CarMax from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Finally, Benchmark reiterated a "hold" rating on shares of CarMax in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $51.00.

Insider Activity at CarMax

In other CarMax news, CEO Keith Barr acquired 9,400 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the completion of the acquisition, the chief executive officer directly owned 33,375 shares of the company's stock, valued at approximately $1,769,208.75. The trade was a 39.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sona Chawla acquired 2,000 shares of the business's stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director directly owned 21,702 shares of the company's stock, valued at $1,158,669.78. This represents a 10.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 13,900 shares of company stock worth $735,574 over the last three months. 1.01% of the stock is currently owned by corporate insiders.

CarMax Price Performance

Shares of NYSE:KMX opened at $62.54 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. The company has a market cap of $8.88 billion, a P/E ratio of 40.88, a PEG ratio of 2.81 and a beta of 1.17. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $65.28. The company has a 50-day moving average price of $57.56 and a 200 day moving average price of $48.10.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.35. The company 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 EPS. Research analysts predict that CarMax, Inc. will post 2.73 earnings per share for the current year.

CarMax Company Profile

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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