J. Safra Sarasin Holding AG Makes New Investment in CarMax, Inc. (NYSE:KMX)

Key Points

• J. Safra Sarasin Holding AG has acquired 38,751 shares of CarMax, Inc. valued at approximately $3,019,000, marking a new investment by the institutional investor during the first quarter.
• Wall Street analysts have varied opinions on CarMax, with target price adjustments ranging from $72 to $95, leading to a consensus rating of "Moderate Buy" with an average price target of $83.67.
• CarMax reported an earnings per share of $1.38 for the last quarter, exceeding analysts' expectations, although its revenue fell short of consensus estimates at $7.55 billion.

J. Safra Sarasin Holding AG acquired a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,751 shares of the company's stock, valued at approximately $3,019,000.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock valued at $262,000 after buying an additional 176 shares during the period. Nicolet Advisory Services LLC grew its position in CarMax by 6.3% during the first quarter. Nicolet Advisory Services LLC now owns 3,576 shares of the company's stock valued at $279,000 after buying an additional 212 shares during the period. Parallel Advisors LLC grew its position in CarMax by 38.4% during the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock valued at $73,000 after buying an additional 260 shares during the period. Empirical Finance LLC boosted its position in CarMax by 5.0% during the first quarter. Empirical Finance LLC now owns 5,697 shares of the company's stock worth $444,000 after purchasing an additional 271 shares during the period. Finally, Blue Trust Inc. boosted its position in CarMax by 49.2% during the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after purchasing an additional 296 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada increased their target price 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. Morgan Stanley assumed coverage on shares of CarMax in a research report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price for the company. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Robert W. Baird cut 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. Finally, Truist Financial raised their price objective on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.67.

Insider Activity at CarMax

In related news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction on Wednesday, July 2nd. The shares were 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 $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by insiders.

CarMax Stock Down 1.1%

Shares of NYSE KMX opened at $55.98 on Friday. 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 52 week low of $55.37 and a 52 week high of $91.25. The firm's fifty day moving average is $64.82 and its 200 day moving average is $71.56. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.91 and a beta of 1.36.

CarMax (NYSE:KMX - Get Free Report) last issued its earnings results on Friday, June 20th. The company reported $1.38 EPS 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 company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current year.

About CarMax

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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