First Pacific Advisors LP Raises Stake in CarMax, Inc. (NYSE:KMX)

First Pacific Advisors LP boosted its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,415,974 shares of the company's stock after buying an additional 18,912 shares during the period. CarMax makes up 3.0% of First Pacific Advisors LP's holdings, making the stock its 14th largest position. First Pacific Advisors LP owned approximately 1.58% of CarMax worth $188,253,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its stake in CarMax by 5.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock valued at $262,000 after acquiring an additional 176 shares during the period. Parallel Advisors LLC grew its position in shares of CarMax by 38.4% in the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock valued at $73,000 after purchasing an additional 260 shares during the period. Blue Trust Inc. increased its stake in CarMax by 49.2% during the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after buying an additional 296 shares in the last quarter. D.A. Davidson & CO. raised its stake in CarMax by 2.7% in the 1st quarter. D.A. Davidson & CO. now owns 12,203 shares of the company's stock valued at $951,000 after purchasing an additional 325 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of CarMax by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 18,022 shares of the company's stock valued at $1,404,000 after buying an additional 355 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KMX shares. Mizuho reduced 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. Evercore ISI lowered their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Wedbush reiterated an "outperform" rating and set a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Royal Bank Of Canada boosted their target price on CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Finally, Cfra Research raised shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.67.

CarMax Stock Performance

KMX stock traded up $0.51 on Friday, hitting $60.73. The company's stock had a trading volume of 2,197,236 shares, compared to its average volume of 2,943,822. CarMax, Inc. has a 1 year low of $59.96 and a 1 year high of $91.25. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38. The firm has a 50 day moving average of $65.49 and a two-hundred day moving average of $72.38. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $7.58 billion. During the same period last year, the company earned $0.97 earnings per share. The company's revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the transaction, the executive vice president owned 2,779 shares in the company, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

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.