Lecap Asset Management Ltd. Takes $1.14 Million Position in CarMax, Inc. (NYSE:KMX)

Lecap Asset Management Ltd. bought a new stake in CarMax, Inc. (NYSE:KMX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,624 shares of the company's stock, valued at approximately $1,140,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in shares of CarMax in the fourth quarter valued at approximately $53,000. Allworth Financial LP boosted its stake in shares of CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock valued at $51,000 after buying an additional 249 shares during the period. Colonial Trust Co SC boosted its stake in shares of CarMax by 2,310.0% in the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after buying an additional 693 shares during the period. Blue Trust Inc. boosted its stake in shares of CarMax by 49.2% in the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock valued at $70,000 after buying an additional 296 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of CarMax by 38.4% in 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.

Insider Activity

In other news, Director Mitchell D. Steenrod purchased 1,300 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was bought at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the purchase, the director now owns 33,577 shares of the company's stock, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on KMX. Robert W. Baird cut their price target on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Evercore ISI cut their price target on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price target on shares of CarMax in a research note on Monday, June 23rd. Wedbush reiterated an "outperform" rating and issued a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. cut their price target on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.10.

CarMax Price Performance

NYSE KMX traded down $0.17 on Friday, hitting $66.50. 5,639,577 shares of the company's stock were exchanged, compared to its average volume of 2,381,339. The stock has a 50-day moving average of $65.78 and a 200-day moving average of $74.68. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.09 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.38 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 period in the prior year, the company earned $0.97 EPS. CarMax's revenue was up 6.1% compared to the same quarter last year. 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.