LPL Financial LLC Purchases 23,927 Shares of CarMax, Inc. (NYSE:KMX)

Key Points

• LPL Financial LLC increased its stake in CarMax, Inc. by 12.0%, owning a total of 223,951 shares valued at approximately $17.45 million.
• Analysts have mixed views on CarMax, with price target adjustments leading to an average target of $83.08 and a consensus rating of "Moderate Buy."
• In insider trading news, EVP Jon G. Daniels sold 1,540 shares of CarMax, marking a significant 35.66% decrease in his ownership of the company.

LPL Financial LLC increased its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,951 shares of the company's stock after purchasing an additional 23,927 shares during the period. LPL Financial LLC owned approximately 0.15% of CarMax worth $17,450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in shares of CarMax during the 4th quarter worth $53,000. Colonial Trust Co SC lifted its position in shares of CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after buying an additional 693 shares during the last quarter. Blue Trust Inc. boosted its stake in 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 in the last quarter. Parallel Advisors LLC grew its position in 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 acquiring an additional 260 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in CarMax by 123.8% during the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock worth $81,000 after acquiring an additional 551 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KMX. Needham & Company LLC reiterated a "buy" rating and set a $92.00 price target on shares of CarMax in a report on Monday, June 23rd. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised shares of CarMax from an "underweight" rating to a "neutral" rating and reduced their price objective for the stock from $65.00 to $58.00 in a research report on Wednesday. Evercore ISI cut their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Finally, Benchmark initiated coverage on CarMax in a report on Thursday, July 17th. They issued a "buy" rating and a $75.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.08.

CarMax Stock Performance

Shares of CarMax stock traded down $0.98 during trading hours on Thursday, reaching $55.25. The company had a trading volume of 2,352,608 shares, compared to its average volume of 2,973,034. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. CarMax, Inc. has a one year low of $54.53 and a one year high of $91.25. The firm has a market cap of $8.29 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 0.91 and a beta of 1.36. The business has a fifty day simple moving average of $64.40 and a 200 day simple moving average of $71.12.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter last year, the firm posted $0.97 EPS. The company's revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the transaction, the executive vice president owned 2,779 shares in the company, valued at approximately $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.