DAVENPORT & Co LLC Has $98.45 Million Position in CarMax, Inc. (NYSE:KMX)

DAVENPORT & Co LLC boosted its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,274,478 shares of the company's stock after purchasing an additional 23,694 shares during the period. DAVENPORT & Co LLC owned about 0.83% of CarMax worth $98,454,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in shares of CarMax in the fourth quarter valued at about $53,000. Colonial Trust Co SC raised its stake in shares of CarMax by 2,310.0% in the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after acquiring an additional 693 shares during the last quarter. Blue Trust Inc. lifted its position in shares of CarMax by 49.2% during the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after purchasing an additional 296 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of CarMax by 38.4% during the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock worth $73,000 after purchasing an additional 260 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in shares of 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 purchasing an additional 551 shares during the last quarter.

Insider Transactions at CarMax

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of CarMax stock in a transaction dated Thursday, April 24th. The stock was bought at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the purchase, the director directly owned 33,577 shares in the company, valued at approximately $2,198,957.73. This represents a 4.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Royal Bank Of Canada raised their price target on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Evercore ISI reduced their target price on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Finally, Wedbush reissued an "outperform" rating and set a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CarMax has an average rating of "Moderate Buy" and a consensus price target of $84.64.

CarMax Stock Up 1.8%

CarMax stock traded up $1.28 during midday trading on Wednesday, reaching $71.56. The stock had a trading volume of 2,831,666 shares, compared to its average volume of 2,393,226. The stock has a market capitalization of $10.74 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.10 and a beta of 1.38. The firm's fifty day simple moving average is $65.98 and its 200-day simple moving average is $74.52. 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, Inc. has a 1-year low of $61.34 and a 1-year high of $91.25.

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. The company had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. As a group, analysts expect that CarMax, Inc. will post 3.23 EPS for the current fiscal 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.