Cetera Investment Advisers Has $12.05 Million Holdings in CarMax, Inc. (NYSE:KMX)

Cetera Investment Advisers raised its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 154,681 shares of the company's stock after buying an additional 7,102 shares during the quarter. Cetera Investment Advisers owned about 0.10% of CarMax worth $12,053,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC increased its holdings in shares of CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock valued at $539,213,000 after purchasing an additional 5,122,850 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of CarMax by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company's stock valued at $381,978,000 after acquiring an additional 29,715 shares during the period. Geode Capital Management LLC boosted its position in shares of CarMax by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company's stock valued at $302,564,000 after acquiring an additional 47,058 shares during the period. Baird Financial Group Inc. boosted its position in shares of CarMax by 4.3% in the fourth quarter. Baird Financial Group Inc. now owns 2,887,526 shares of the company's stock valued at $236,084,000 after acquiring an additional 119,666 shares during the period. Finally, Invesco Ltd. boosted its position in shares of CarMax by 1.0% in the fourth quarter. Invesco Ltd. now owns 2,729,965 shares of the company's stock valued at $223,202,000 after acquiring an additional 27,716 shares during the period.

Wall Street Analysts Forecast Growth

KMX has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on shares of CarMax in a research report on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 target price for the company. Evercore ISI reduced their target price 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. Mizuho reduced their target price 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. Needham & Company LLC reaffirmed a "buy" rating and set a $92.00 price objective on shares of CarMax in a research report 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 issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.67.

CarMax Trading Down 1.1%

Shares of CarMax stock traded down $0.63 on Friday, hitting $55.98. The stock had a trading volume of 3,828,338 shares, compared to its average volume of 2,965,248. The stock has a 50 day moving average of $64.95 and a 200 day moving average of $71.78. CarMax, Inc. has a twelve month low of $55.37 and a twelve month high of $91.25. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The firm has a market capitalization of $8.40 billion, a P/E ratio of 15.46, a PEG ratio of 0.94 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last released 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 return on equity of 9.11% and a net margin of 2.09%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The firm's revenue was up 6.1% compared to the same quarter last year. Sell-side analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.