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

Lecap Asset Management Ltd. bought a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,624 shares of the company's stock, valued at approximately $1,140,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in KMX. Allworth Financial LP grew its stake in shares of CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock worth $51,000 after purchasing an additional 249 shares during the period. Parallel Advisors LLC grew its stake in shares of CarMax by 38.4% during the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock worth $73,000 after purchasing an additional 260 shares during the period. Arizona State Retirement System grew its stake in shares of CarMax by 0.6% during the fourth quarter. Arizona State Retirement System now owns 44,998 shares of the company's stock worth $3,679,000 after purchasing an additional 282 shares during the period. Blue Trust Inc. grew its stake in shares of 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. Finally, Sequoia Financial Advisors LLC grew its stake in shares of CarMax by 10.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock worth $261,000 after purchasing an additional 307 shares during the period.

CarMax Stock Performance

KMX opened at $67.53 on Thursday. CarMax, Inc. has a 52-week low of $61.34 and a 52-week high of $91.25. The firm has a market capitalization of $10.31 billion, a PE ratio of 18.65, a PEG ratio of 1.13 and a beta of 1.38. 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 business's 50-day simple moving average is $65.70 and its 200 day simple moving average is $75.12.

CarMax (NYSE:KMX - Get Free Report) last released 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 analyst estimates of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%. CarMax's revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 earnings per share. As a group, sell-side analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KMX has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and issued a $92.00 target price on shares of CarMax in a research note on Monday. Truist Financial boosted their target price on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price 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 issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $85.10.

Insider Buying and Selling at CarMax

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the company's stock in a transaction on Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the purchase, the director now directly owns 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This represents a 4.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.

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