Dimensional Fund Advisors LP Grows Stock Holdings in CarMax, Inc. $KMX

Key Points

• Dimensional Fund Advisors increased its CarMax stake by 7.3% in Q1, ending with 4.28 million shares worth about $177.8 million, or roughly 3.01% of the company.
• CarMax reported better-than-expected quarterly results, posting $1.31 EPS versus a $0.96 estimate and revenue of $8.01 billion, up 6.2% from a year earlier.
• Insider buying picked up, with directors Peter J. Bensen and Sona Chawla purchasing shares in June; over the past 90 days, insiders bought 13,900 shares total.

Dimensional Fund Advisors LP raised its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,275,663 shares of the company's stock after acquiring an additional 289,768 shares during the quarter. Dimensional Fund Advisors LP owned about 3.01% of CarMax worth $177,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KMX. Jones Financial Companies Lllp lifted its position in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock worth $419,000 after purchasing an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CarMax by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock valued at $2,446,000 after purchasing an additional 173 shares in the last quarter. Blue Trust Inc. increased its holdings in CarMax by 20.0% during the fourth quarter. Blue Trust Inc. now owns 1,424 shares of the company's stock valued at $55,000 after buying an additional 237 shares during the period. Huntington National Bank increased its holdings in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company's stock valued at $27,000 after buying an additional 265 shares during the period. Finally, Ossiam raised its stake in CarMax by 19.5% in the second quarter. Ossiam now owns 1,713 shares of the company's stock worth $115,000 after buying an additional 280 shares in the last quarter.

CarMax Stock Performance

Shares of CarMax stock opened at $58.31 on Friday. The company has a 50 day moving average price of $49.69 and a 200 day moving average price of $45.18. The firm has a market capitalization of $8.27 billion, a P/E ratio of 38.11, a PEG ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $62.56.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. CarMax's revenue was up 6.2% compared to the same quarter last year. Sell-side analysts expect that CarMax, Inc. will post 2.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Bank of America upped their target price on CarMax from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Wednesday, June 17th. Morgan Stanley upped their price objective on CarMax from $35.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 23rd. Mizuho raised their price objective on CarMax from $38.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, June 18th. Evercore set a $45.00 target price on CarMax in a research note on Friday, April 10th. Finally, UBS Group lifted their price target on shares of CarMax from $42.00 to $57.00 and gave the stock a "neutral" rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $49.33.

Insider Transactions at CarMax

In other news, Director Peter J. Bensen bought 2,500 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost of $52.20 per share, with a total value of $130,500.00. Following the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sona Chawla bought 2,000 shares of CarMax stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $53.39 per share, with a total value of $106,780.00. Following the purchase, the director directly owned 21,702 shares in the company, valued at $1,158,669.78. The trade was a 10.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 13,900 shares of company stock worth $735,574. Company insiders own 1.01% of the company's stock.

About CarMax

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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