Fuller & Thaler Asset Management Inc. Raises Stock Holdings in CarMax, Inc. $KMX

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in CarMax by 626.1% during Q1, owning 903,024 shares valued at approximately $70 million.
• Several hedge funds have significantly boosted their investment positions in CarMax, with Kovitz Investment Group increasing its stake by 348.0% in Q4.
• Analysts have mixed outlooks on CarMax, with a consensus rating of "Moderate Buy" and a price target averaging $82.75, following a recent earnings report that beat expectations.

Fuller & Thaler Asset Management Inc. boosted its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 626.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 903,024 shares of the company's stock after acquiring an additional 778,652 shares during the period. Fuller & Thaler Asset Management Inc. owned 0.59% of CarMax worth $70,364,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in CarMax in the 1st quarter worth about $27,000. Accent Capital Management LLC purchased a new stake in shares of CarMax in the 1st quarter valued at about $34,000. Strengthening Families & Communities LLC raised its holdings in shares of CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock valued at $39,000 after acquiring an additional 256 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of CarMax during the 4th quarter valued at about $53,000. Finally, Colonial Trust Co SC raised its holdings in shares of CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after buying an additional 693 shares in the last quarter.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the sale, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

CarMax Stock Performance

NYSE:KMX traded up $2.1260 during mid-day trading on Friday, hitting $60.0160. 1,811,819 shares of the company traded hands, compared to its average volume of 2,933,518. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.94 and a beta of 1.36. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The stock's fifty day moving average price is $62.53 and its 200-day moving average price is $69.17. CarMax, Inc. has a one year low of $54.53 and a one year high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on KMX. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Mizuho cut their price objective on CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Stephens reiterated an "overweight" rating and issued a $81.00 price objective on shares of CarMax in a research report on Tuesday. Benchmark assumed coverage on CarMax in a research report on Thursday, July 17th. They set a "buy" rating and a $75.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and dropped their price target 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 assigned a Buy rating, three have assigned 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 a consensus price target of $81.50.

About CarMax

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.