113,225 Shares in CarMax, Inc. (NYSE:KMX) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 113,225 shares of the company's stock, valued at approximately $8,822,000. Edgestream Partners L.P. owned 0.07% of CarMax at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sequoia Financial Advisors LLC increased its stake in CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after purchasing an additional 176 shares during the period. Parallel Advisors LLC increased its stake in 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 during the period. Blue Trust Inc. increased its stake in 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 during the period. D.A. Davidson & CO. increased its stake in shares of CarMax by 2.7% during the first quarter. D.A. Davidson & CO. now owns 12,203 shares of the company's stock worth $951,000 after buying an additional 325 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of CarMax by 2.0% during the first quarter. State of Alaska Department of Revenue now owns 18,022 shares of the company's stock worth $1,404,000 after buying an additional 355 shares during the period.

CarMax Stock Down 0.1%

KMX traded down $0.08 on Thursday, reaching $62.32. The company's stock had a trading volume of 2,884,497 shares, compared to its average volume of 2,424,644. The stock has a 50 day moving average of $66.21 and a two-hundred day moving average of $73.15. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.01 and a beta of 1.38. CarMax, Inc. has a fifty-two week low of $61.34 and a fifty-two week high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.20. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The company's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 earnings per share. As a group, analysts forecast that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the sale, the executive vice president directly owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mitchell D. Steenrod acquired 1,300 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, with a total value of $85,137.00. Following the completion of the acquisition, the director directly owned 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their position. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley assumed coverage on shares of CarMax in a research note on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price on the stock. Royal Bank Of Canada upped their target price on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Robert W. Baird cut their target price on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CarMax currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

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.