Dimensional Fund Advisors LP Has $140.25 Million Stock Position in CarMax, Inc. $KMX

Key Points

• Dimensional Fund Advisors LP has reduced its holdings in CarMax, Inc. by 6.4%, now owning approximately 1.18% of the company, valued at $140.25 million.
• CarMax's recent earnings report showed an EPS of $1.38, exceeding estimates by $0.20, with revenues totaling $7.55 billion.
• Analysts have shown positive sentiment towards CarMax, with target price upgrades from several firms, putting the average price target at $81.50 and a general rating of "Moderate Buy."

Dimensional Fund Advisors LP reduced its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,800,275 shares of the company's stock after selling 122,097 shares during the period. Dimensional Fund Advisors LP owned approximately 1.18% of CarMax worth $140,247,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of CarMax in the first quarter worth $27,000. Accent Capital Management LLC bought a new stake in CarMax in the 1st quarter valued at $34,000. Strengthening Families & Communities LLC grew its position in CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock worth $39,000 after purchasing an additional 256 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in CarMax in the 4th quarter worth $53,000. Finally, Colonial Trust Co SC increased its holdings in shares of CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after purchasing an additional 693 shares during the period.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the business's 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 transaction, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

CarMax Price Performance

Shares of KMX stock opened at $57.7690 on Thursday. The stock's fifty day simple moving average is $62.69 and its 200 day simple moving average is $69.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 0.96 and a beta of 1.36. CarMax, Inc. has a one year low of $54.53 and a one year high of $91.25.

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, 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 analyst estimates of $7.58 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

KMX has been the subject of several research reports. Truist Financial increased their target price on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. Royal Bank Of Canada raised their price objective on CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. Evercore ISI decreased their price objective on CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Morgan Stanley began coverage on CarMax in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 target price for the company. Finally, Benchmark initiated coverage on CarMax in a research report on Thursday, July 17th. They issued a "buy" rating and a $75.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $81.50.

About CarMax

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.

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