CarMax, Inc. $KMX Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in CarMax, Inc. by 34.2%, acquiring an additional 207,665 shares during the first quarter, bringing its total ownership to approximately 0.53% of the company.
• CarMax reported a quarterly EPS of $1.38, exceeding analysts' expectations, although its revenue of $7.55 billion fell slightly short of the consensus estimate.
• Analysts have mixed ratings for CarMax, with one "Strong Buy," nine "Buy," three "Hold," and one "Sell" rating, resulting in an average price target of $81.50.

Wellington Management Group LLP boosted its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 34.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 815,461 shares of the company's stock after acquiring an additional 207,665 shares during the period. Wellington Management Group LLP owned about 0.53% of CarMax worth $63,541,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of KMX. Kovitz Investment Group Partners LLC lifted its position in shares of CarMax by 348.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after buying an additional 5,122,850 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock worth $114,465,000 after buying an additional 634,390 shares during the last quarter. GAMMA Investing LLC raised its position in CarMax by 8,675.6% in the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock valued at $40,193,000 after purchasing an additional 509,952 shares during the last quarter. ThornTree Capital Partners LP purchased a new stake in CarMax in the 4th quarter valued at $35,612,000. Finally, Nuveen LLC purchased a new stake in CarMax in the 1st quarter valued at $33,872,000.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wedbush reiterated an "outperform" rating and issued a $84.00 price target on shares of CarMax in a research report on Tuesday. JPMorgan Chase & Co. upgraded shares of CarMax from an "underweight" rating to a "neutral" rating and reduced their price target for the company from $65.00 to $58.00 in a research report on Wednesday, August 6th. Royal Bank Of Canada upped their price target on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, June 23rd. Mizuho reduced their price target on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Finally, Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, CarMax presently has an average rating of "Moderate Buy" and an average price target of $81.50.

CarMax Stock Up 3.7%

Shares of CarMax stock opened at $60.0160 on Friday. The company has a market cap of $9.01 billion, a P/E ratio of 16.58, a PEG ratio of 0.94 and a beta of 1.36. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. CarMax, Inc. has a one year low of $54.53 and a one year high of $91.25. The firm has a fifty day moving average of $62.43 and a two-hundred day moving average of $69.00.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.20. The company 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%. CarMax's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. On average, analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of the transaction, the executive vice president owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company's stock.

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.

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