Envestnet Asset Management Inc. Buys 20,800 Shares of CarMax, Inc. (NYSE:KMX)

Envestnet Asset Management Inc. grew its position in CarMax, Inc. (NYSE:KMX - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,521,704 shares of the company's stock after purchasing an additional 20,800 shares during the period. Envestnet Asset Management Inc. owned about 1.00% of CarMax worth $118,571,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in CarMax in the fourth quarter worth $53,000. Colonial Trust Co SC increased its position in shares of CarMax by 2,310.0% during the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after acquiring an additional 693 shares in the last quarter. Blue Trust Inc. increased its position in shares of CarMax by 49.2% during the first 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. Parallel Advisors LLC increased its position in shares of CarMax by 38.4% during the first 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. Finally, True Wealth Design LLC increased its position in shares of CarMax by 123.8% during the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock worth $81,000 after acquiring an additional 551 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KMX shares. Royal Bank Of Canada increased their price objective on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. Needham & Company LLC reissued a "buy" rating and set a $92.00 price objective on shares of CarMax in a research report on Monday, June 23rd. Mizuho lowered their price objective on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. JPMorgan Chase & Co. decreased their target price on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Finally, Robert W. Baird decreased their target price on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.45.

CarMax Stock Performance

Shares of NYSE KMX traded down $2.57 during mid-day trading on Friday, reaching $64.37. 3,030,288 shares of the company were exchanged, compared to its average volume of 2,408,284. CarMax, Inc. has a twelve month low of $61.34 and a twelve month high of $91.25. 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's 50-day simple moving average is $66.46 and its 200-day simple moving average is $73.64. The stock has a market capitalization of $9.66 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.04 and a beta of 1.38.

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

Insider Activity

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