Edgestream Partners L.P. Purchases New Shares in CarMax, Inc. (NYSE:KMX)

Edgestream Partners L.P. bought a new stake in CarMax, Inc. (NYSE:KMX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 113,225 shares of the company's stock, valued at approximately $8,822,000. Edgestream Partners L.P. owned approximately 0.07% of CarMax at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KMX. Sequoia Financial Advisors LLC boosted its stake in shares of CarMax by 5.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after acquiring an additional 176 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of CarMax by 38.4% during the 1st quarter. Parallel Advisors LLC now owns 937 shares of the company's stock worth $73,000 after acquiring an additional 260 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of CarMax by 49.2% during the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after acquiring an additional 296 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of CarMax by 2.7% during the 1st quarter. D.A. Davidson & CO. now owns 12,203 shares of the company's stock worth $951,000 after acquiring an additional 325 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of CarMax by 2.0% during the 1st quarter. State of Alaska Department of Revenue now owns 18,022 shares of the company's stock worth $1,404,000 after acquiring an additional 355 shares in the last quarter.

CarMax Stock Performance

CarMax stock traded down $2.14 during trading hours on Tuesday, hitting $63.06. The stock had a trading volume of 3,185,556 shares, compared to its average volume of 2,415,658. The company has a 50-day moving average of $66.37 and a two-hundred day moving average of $73.36. 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 cap of $9.46 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.06 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 results on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.18 by $0.20. The firm had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 EPS. On average, equities research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

KMX has been the subject of several recent analyst reports. Truist Financial upped their price target on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday, June 23rd. Morgan Stanley started coverage on CarMax in a research note on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price target for the company. 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. Royal Bank Of Canada increased their target price on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Finally, Robert W. Baird decreased their target price on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.45.

Insider Activity at CarMax

In related news, Director Mitchell D. Steenrod bought 1,300 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the transaction, the director directly owned 33,577 shares of the company's stock, valued at $2,198,957.73. This represents a 4.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jon G. Daniels sold 1,540 shares of the firm's 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 transaction, the executive vice president owned 2,779 shares of the company's stock, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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.