J. Goldman & Co LP Takes $6.12 Million Position in CarMax, Inc. $KMX

Key Points

• J. Goldman & Co. LP acquired 115,685 CarMax shares during the second quarter, establishing a position valued at approximately $6.12 million, or 0.08% of the company.
• CarMax reported quarterly EPS of $1.31, exceeding estimates of $0.96, while revenue rose 6.2% year over year to $8.01 billion. The stock opened at $64.17, near its 52-week high of $64.59.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $51.00, despite recent insider purchases totaling 13,900 shares worth about $735,574.

J. Goldman & Co LP acquired a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 115,685 shares of the company's stock, valued at approximately $6,119,000. J. Goldman & Co LP owned 0.08% of CarMax as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KMX. AQR Capital Management LLC grew its holdings in shares of CarMax by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company's stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the last quarter. SRS Investment Management LLC boosted its position in CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company's stock valued at $217,845,000 after purchasing an additional 5,327,603 shares during the period. Janus Henderson Group PLC grew its stake in CarMax by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company's stock worth $190,471,000 after buying an additional 49,987 shares during the last quarter. Primecap Management Co. CA acquired a new stake in CarMax in the second quarter worth $230,548,000. Finally, Dimensional Fund Advisors LP lifted its stake in CarMax by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company's stock valued at $177,767,000 after buying an additional 289,768 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on KMX. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and set a $66.00 price target for the company in a research report on Thursday, June 18th. Morgan Stanley upped their target price on shares of CarMax from $35.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 23rd. Bank of America lifted their price target on CarMax from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Wednesday, June 17th. UBS Group set a $60.00 price objective on CarMax in a report on Wednesday, July 29th. Finally, Truist Financial raised their target price on CarMax from $47.00 to $50.00 and gave the company a "hold" rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, CarMax has a consensus rating of "Hold" and an average target price of $51.00.

CarMax Stock Up 2.2%

KMX stock opened at $64.17 on Wednesday. The firm's 50-day moving average is $56.11 and its two-hundred day moving average is $47.24. The company has a market capitalization of $9.11 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 2.87 and a beta of 1.15. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $64.59. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter last year, the business earned $1.38 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts forecast that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Peter J. Bensen bought 2,500 shares of CarMax stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $52.20 per share, with a total value of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sona Chawla purchased 2,000 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the purchase, the director directly owned 21,702 shares in the company, valued at $1,158,669.78. This represents a 10.15% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 13,900 shares of company stock worth $735,574. Insiders own 1.01% of the company's stock.

CarMax Company Profile

CarMax NYSE: KMX is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company's inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax's retail locations or browse the company's online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.

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