Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 24,880 CarMax, Inc. $KMX

Connor Clark & Lunn Investment Management Ltd. acquired a new position in CarMax, Inc. (NYSE:KMX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 24,880 shares of the company's stock, valued at approximately $1,316,000.

A number of other institutional investors and hedge funds have also modified their holdings of KMX. Kiltearn Partners LLP acquired a new position in shares of CarMax in the second quarter valued at $21,499,000. Northwestern Mutual Wealth Management Co. acquired a new stake in CarMax during the second quarter worth $187,000. Quantbot Technologies LP bought a new stake in CarMax in the 2nd quarter valued at $598,000. Evolve Private Wealth LLC bought a new stake in CarMax in the 2nd quarter valued at $702,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of CarMax in the 2nd quarter valued at $8,181,000.

Insiders Place Their Bets

In other CarMax news, Director Peter J. Bensen bought 2,500 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director owned 24,796 shares of the company's stock, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sona Chawla bought 2,000 shares of the stock in a transaction dated Thursday, June 25th. The stock was acquired at an average price of $53.39 per share, with a total value of $106,780.00. Following the completion of the purchase, the director owned 21,702 shares of the company's stock, valued at $1,158,669.78. This represents a 10.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on KMX shares. Royal Bank Of Canada lifted their target price on shares of CarMax from $41.00 to $45.00 and gave the company a "sector perform" rating in a research report on Thursday, June 18th. Zacks Research raised shares of CarMax from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Truist Financial raised their price target on shares of CarMax from $47.00 to $50.00 and gave the stock a "hold" rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. raised CarMax from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $38.00 to $60.00 in a report on Wednesday, July 29th. Finally, Bank of America upped their price objective on CarMax from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.00.

CarMax Price Performance

Shares of CarMax stock opened at $61.96 on Monday. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 40.50, a P/E/G ratio of 2.84 and a beta of 1.15. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $65.28. The firm's 50-day moving average price is $56.79 and its two-hundred day moving average price is $47.59.

CarMax (NYSE:KMX - Get Free Report) last announced its earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.96 by $0.35. The business had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. On average, equities analysts predict that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

CarMax Profile

CarMax NYSE: KMX is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company's inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax's retail locations or browse the company's online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.

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