Envestnet Asset Management Inc. Grows Stake in CarMax, Inc. (NYSE:KMX)

Envestnet Asset Management Inc. raised its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,521,704 shares of the company's stock after acquiring an additional 20,800 shares during the quarter. Envestnet Asset Management Inc. owned approximately 1.00% of CarMax worth $118,571,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in shares of CarMax by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 53,859 shares of the company's stock worth $4,404,000 after buying an additional 930 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of CarMax during the 4th quarter worth approximately $2,173,000. Raymond James Financial Inc. acquired a new position in shares of CarMax during the 4th quarter worth approximately $31,061,000. Amundi raised its stake in shares of CarMax by 54.3% during the 4th quarter. Amundi now owns 360,867 shares of the company's stock worth $29,566,000 after buying an additional 127,007 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of CarMax by 4.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 28,147 shares of the company's stock worth $2,301,000 after buying an additional 1,111 shares during the period.

CarMax Trading Down 3.3%

Shares of CarMax stock traded down $2.19 during trading hours on Friday, hitting $64.75. The company's stock had a trading volume of 1,282,422 shares, compared to its average volume of 2,940,764. The firm has a fifty day moving average of $66.51 and a 200-day moving average of $73.86. CarMax, Inc. has a twelve month low of $61.34 and a twelve month high of $91.25. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 1.09 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company earned $0.97 EPS. CarMax's revenue was up 6.1% on a year-over-year basis. Research analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on KMX. Morgan Stanley initiated coverage on CarMax in a research report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price target for the company. Truist Financial upped their target price on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Royal Bank Of Canada upped their target price on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Needham & Company LLC restated a "buy" rating and issued a $92.00 target price on shares of CarMax in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CarMax presently has an average rating of "Moderate Buy" and an average target price of $84.45.

Insider Activity

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of CarMax stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $65.49 per share, with a total value of $85,137.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jon G. Daniels sold 1,540 shares of the 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 completion of the sale, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. This represents a 35.66% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

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.