Focus Partners Advisor Solutions LLC Purchases 4,141 Shares of CarMax, Inc. $KMX

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in CarMax, Inc. by 163.7%, purchasing an additional 4,141 shares, bringing its total holdings to 6,671 shares worth $520,000.
• Wall Street analysts predominantly rate CarMax as a "Moderate Buy," with a consensus target price of $81.50, reflecting a range of views from "Strong Buy" to "Sell."
• CarMax reported earnings of $1.38 per share, exceeding expectations, and recorded a revenue of $7.55 billion for the quarter, although slightly below analyst predictions.

Focus Partners Advisor Solutions LLC boosted its position in CarMax, Inc. (NYSE:KMX - Free Report) by 163.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,671 shares of the company's stock after purchasing an additional 4,141 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in CarMax were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Redmond Asset Management LLC raised its holdings in CarMax by 0.3% in the first quarter. Redmond Asset Management LLC now owns 50,803 shares of the company's stock worth $3,959,000 after purchasing an additional 152 shares in the last quarter. Maia Wealth LLC raised its holdings in CarMax by 0.6% in the first quarter. Maia Wealth LLC now owns 26,099 shares of the company's stock worth $2,034,000 after purchasing an additional 157 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in CarMax by 5.5% in 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 in the last quarter. Nicolet Advisory Services LLC raised its holdings in CarMax by 6.3% in the first quarter. Nicolet Advisory Services LLC now owns 3,576 shares of the company's stock worth $279,000 after purchasing an additional 212 shares in the last quarter. Finally, Quarry LP grew its stake in shares of CarMax by 50.5% in the first quarter. Quarry LP now owns 694 shares of the company's stock worth $54,000 after acquiring an additional 233 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KMX. Needham & Company LLC reissued a "buy" rating and issued a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. 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 on the stock. Evercore ISI cut their target price on CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Royal Bank Of Canada increased their target price on CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Finally, JPMorgan Chase & Co. raised CarMax from an "underweight" rating to a "neutral" rating and cut their target price for the stock from $65.00 to $58.00 in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, CarMax currently has an average rating of "Moderate Buy" and a consensus price target of $81.50.

CarMax Trading Down 0.3%

Shares of NYSE:KMX opened at $60.75 on Friday. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.99 and a beta of 1.35. 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's 50-day simple moving average is $61.30 and its two-hundred day simple moving average is $67.20. CarMax, Inc. has a 52-week low of $54.53 and a 52-week high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last announced 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. The business had revenue of $7.55 billion for 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 business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.97 earnings per share. Analysts expect that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction dated 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 directly owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

CarMax Company 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.

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