Legal & General Group Plc Acquires Shares of 354,495 CarMax, Inc. $KMX

Key Points

• Legal & General Group Plc acquired 354,495 CarMax shares worth approximately $18.75 million, representing a 0.25% stake.
• CarMax reported quarterly EPS of $1.31, beating estimates of $0.96, while revenue rose 6.2% year over year to $8.01 billion. Shares recently traded at $61.96, above the consensus analyst price target of $51.00.
• Insiders purchased 13,900 shares worth $735,574 over the past 90 days, while analyst sentiment remained mixed with a consensus rating of Hold.

Legal & General Group Plc acquired a new stake in CarMax, Inc. (NYSE:KMX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 354,495 shares of the company's stock, valued at approximately $18,749,000. Legal & General Group Plc owned 0.25% of CarMax at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp grew its position in CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock valued at $419,000 after acquiring an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CarMax by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock valued at $2,446,000 after acquiring an additional 173 shares during the period. Huntington National Bank lifted its holdings in shares of CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company's stock valued at $27,000 after acquiring an additional 265 shares during the period. Ossiam boosted its stake in shares of CarMax by 19.5% in the 2nd quarter. Ossiam now owns 1,713 shares of the company's stock valued at $115,000 after purchasing an additional 280 shares in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its stake in shares of CarMax by 4.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 7,028 shares of the company's stock valued at $272,000 after purchasing an additional 298 shares in the last quarter.

CarMax Price Performance

Shares of KMX stock opened at $61.96 on Friday. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 2.84 and a beta of 1.15. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $65.28. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The stock has a 50-day moving average price of $56.79 and a 200 day moving average price of $47.58.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.35. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. Research analysts expect that CarMax, Inc. will post 2.73 EPS for the current year.

Insider Buying and Selling

In other CarMax news, CEO Keith Barr acquired 9,400 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the acquisition, the chief executive officer directly owned 33,375 shares of the company's stock, valued at approximately $1,769,208.75. This represents a 39.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter J. Bensen acquired 2,500 shares of CarMax stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the purchase, the director owned 24,796 shares of the company's stock, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 13,900 shares of company stock valued at $735,574 over the last ninety days. Insiders own 1.01% of the company's stock.

Analyst Ratings Changes

KMX has been the subject of a number of recent analyst reports. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and set a $66.00 target price for the company in a research report on Thursday, June 18th. Morgan Stanley upped their price objective on shares of CarMax from $35.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 23rd. Zacks Research raised shares of CarMax from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Royal Bank Of Canada raised their price objective on shares of CarMax from $41.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, June 18th. Finally, Mizuho lifted their target price on shares of CarMax from $38.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $51.00.

About CarMax

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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