CarMax, Inc. (NYSE:KMX) Shares Acquired by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. raised its ownership in CarMax, Inc. by 31.4% during the first quarter, owning approximately 0.09% of the company valued at $10.2 million.
• CarMax's recent quarterly earnings showed a 6.1% year-over-year revenue increase, reporting earnings of $1.38 per share, exceeding expectations by $0.20.
• Despite mixed analyst ratings, CarMax's stock is currently rated as a "Moderate Buy" with an average price target of $83.67.

Heartland Advisors Inc. raised its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 31.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 130,894 shares of the company's stock after purchasing an additional 31,297 shares during the period. Heartland Advisors Inc. owned 0.09% of CarMax worth $10,199,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Caliber Wealth Management LLC KS acquired a new stake in shares of CarMax in the 1st quarter worth approximately $300,000. Assetmark Inc. lifted its position in shares of CarMax by 14.6% in the 1st quarter. Assetmark Inc. now owns 175,159 shares of the company's stock valued at $13,648,000 after acquiring an additional 22,257 shares in the last quarter. Cetera Investment Advisers increased its stake in CarMax by 4.8% in the 1st quarter. Cetera Investment Advisers now owns 154,681 shares of the company's stock valued at $12,053,000 after buying an additional 7,102 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of CarMax by 17.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 9,323 shares of the company's stock worth $726,000 after purchasing an additional 1,386 shares during the last quarter. Finally, First Pacific Advisors LP increased its stake in shares of CarMax by 0.8% during the 1st quarter. First Pacific Advisors LP now owns 2,415,974 shares of the company's stock worth $188,253,000 after purchasing an additional 18,912 shares during the last quarter.

CarMax Price Performance

NYSE KMX traded down $0.43 during trading hours on Monday, reaching $60.29. The company's stock had a trading volume of 2,104,625 shares, compared to its average volume of 2,947,428. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a 1 year low of $59.96 and a 1 year high of $91.25. The firm's 50-day moving average price is $65.34 and its 200-day moving average price is $72.12. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.98 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The company 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 business earned $0.97 EPS. CarMax's revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KMX shares. Morgan Stanley assumed coverage on shares of 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 lowered their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Truist Financial lifted their price target on shares of CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Cfra Research raised shares of CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Finally, Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.67.

Insider Transactions 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 transaction of $108,785.60. Following the transaction, the executive vice president owned 2,779 shares in the company, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.70% of the company's stock.

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.