CarMax, Inc. (NYSE:KMX) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. has increased its stake in CarMax, Inc. by 14.6%, now owning approximately 0.11% of the company valued at around $13.65 million.
• CarMax reported earnings of $1.38 EPS for the last quarter, exceeding estimates, with a revenue of $7.55 billion, up 6.1% year-over-year.
• Several analysts have upgraded their ratings on CarMax, with the consensus rating now at "Moderate Buy" and a target price of $83.67.

Assetmark Inc. increased its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,159 shares of the company's stock after acquiring an additional 22,257 shares during the quarter. Assetmark Inc. owned approximately 0.11% of CarMax worth $13,648,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. acquired a new stake in CarMax during the fourth quarter valued at approximately $53,000. Colonial Trust Co SC raised its stake in CarMax by 2,310.0% during the fourth 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. Blue Trust Inc. raised its stake in CarMax by 49.2% during the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock valued at $70,000 after buying an additional 296 shares in the last quarter. Parallel Advisors LLC raised its stake in CarMax by 38.4% during the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock valued at $73,000 after buying an additional 260 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in CarMax by 123.8% during the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock valued at $81,000 after buying an additional 551 shares in the last quarter.

Insiders Place Their Bets

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 value of $108,785.60. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KMX. Benchmark began coverage on CarMax in a research note on Thursday, July 17th. They set a "buy" rating and a $75.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $92.00 price objective on shares of CarMax in a research note on Monday, June 23rd. Evercore ISI lowered their target price on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Royal Bank Of Canada upped their target price on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Finally, Truist Financial upped their target price on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, CarMax has a consensus rating of "Moderate Buy" and an average price target of $83.67.

CarMax Price Performance

Shares of KMX stock traded down $0.43 during midday trading on Monday, reaching $60.29. 2,104,625 shares of the company were exchanged, compared to its average volume of 2,947,428. CarMax, Inc. has a 12 month low of $59.96 and a 12 month high of $91.25. The company has a market cap of $9.05 billion, a P/E ratio of 16.65, a PEG ratio of 0.98 and a beta of 1.38. The company's 50 day moving average price is $65.49 and its two-hundred day moving average price is $72.24. 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 (NYSE:KMX - Get Free Report) last released its earnings results 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. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, sell-side analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current year.

CarMax Company 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.