CarMax, Inc. $KMX Shares Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP has significantly increased its stake in CarMax, Inc. by 1,006.4%, owning a total of 102,944 shares worth approximately $8 million.
• CarMax reported an earnings per share (EPS) of $1.38 for the last quarter, exceeding analysts' expectations of $1.18, and had a revenue of $7.55 billion.
• JPMorgan Chase upgraded CarMax's rating from "underweight" to "neutral," while multiple other firms maintained or increased their price targets, reflecting a positive outlook on the company's performance.

Woodline Partners LP increased its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 1,006.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,944 shares of the company's stock after purchasing an additional 93,640 shares during the period. Woodline Partners LP owned 0.07% of CarMax worth $8,021,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CarMax by 13.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company's stock worth $1,571,000 after purchasing an additional 2,375 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of CarMax during the 1st quarter worth approximately $1,753,000. Sequoia Financial Advisors LLC raised its position in shares of CarMax by 5.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after purchasing an additional 176 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in CarMax by 3.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock valued at $4,726,000 after acquiring an additional 2,078 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in CarMax by 12.6% in the 1st quarter. GAMMA Investing LLC now owns 6,620 shares of the company's stock valued at $516,000 after acquiring an additional 742 shares during the last quarter.

CarMax Stock Up 3.5%

Shares of NYSE KMX opened at $61.28 on Friday. CarMax, Inc. has a 52-week low of $54.53 and a 52-week high of $91.25. The firm has a fifty day moving average of $60.58 and a 200-day moving average of $66.54. The stock has a market capitalization of $9.20 billion, a PE ratio of 16.93, a P/E/G ratio of 0.96 and a beta of 1.35. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The company had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the previous year, the company earned $0.97 EPS. The business's quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

Insiders Place Their Bets

In related 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 sale, the executive vice president directly owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KMX shares. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and cut their price target for the company from $65.00 to $58.00 in a report on Wednesday, August 6th. Wedbush reiterated an "outperform" rating and issued a $84.00 price target on shares of CarMax in a report on Tuesday, August 19th. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price target on shares of CarMax in a report on Monday, June 23rd. Royal Bank Of Canada boosted their price target on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Finally, Evercore ISI cut their price target on CarMax from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, CarMax presently has an average rating of "Moderate Buy" and an average price target of $81.50.

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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