MassMutual Private Wealth & Trust FSB Purchases 9,927 Shares of CarMax, Inc. $KMX

Key Points

• MassMutual Private Wealth & Trust FSB increased its stake in CarMax by 6.0%, acquiring an additional 9,927 shares, totaling 174,273 shares valued at $11.7 million.
• CarMax's stock has been rated as a "Moderate Buy" by analysts, with a consensus target price of $81.50 and varying ratings from different brokerages.
• CarMax reported a quarterly earnings per share (EPS) of $1.38, surpassing analyst expectations, and noted a 6.1% year-over-year revenue increase despite slightly missing revenue estimates.

MassMutual Private Wealth & Trust FSB lifted its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 6.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,273 shares of the company's stock after purchasing an additional 9,927 shares during the period. MassMutual Private Wealth & Trust FSB owned about 0.12% of CarMax worth $11,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KMX. OMERS ADMINISTRATION Corp grew its holdings in shares of CarMax by 19.5% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 6,566 shares of the company's stock worth $537,000 after purchasing an additional 1,073 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of CarMax during the fourth quarter worth about $1,132,000. Quantinno Capital Management LP lifted its stake in shares of CarMax by 125.6% in the fourth quarter. Quantinno Capital Management LP now owns 19,707 shares of the company's stock worth $1,611,000 after acquiring an additional 10,973 shares during the period. ProShare Advisors LLC boosted its holdings in CarMax by 76.2% in the fourth quarter. ProShare Advisors LLC now owns 34,695 shares of the company's stock valued at $2,837,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in CarMax by 2.7% in the fourth quarter. Rafferty Asset Management LLC now owns 22,123 shares of the company's stock valued at $1,809,000 after acquiring an additional 580 shares during the last quarter.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at $196,308.56. This represents a 35.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

CarMax Stock Up 1.0%

Shares of NYSE:KMX opened at $60.40 on Tuesday. The company has a market capitalization of $9.06 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.97 and a beta of 1.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. The business has a fifty day moving average price of $60.21 and a two-hundred day moving average price of $66.00. CarMax, Inc. has a 1 year low of $54.53 and a 1 year high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.20. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. Analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KMX. Truist Financial upped their target price on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Wedbush reiterated an "outperform" rating and issued a $84.00 target price on shares of CarMax in a report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and reduced their target price for the company from $65.00 to $58.00 in a report on Wednesday, August 6th. Benchmark began coverage on CarMax in a report on Thursday, July 17th. They issued a "buy" rating and a $75.00 target price on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $92.00 target price on shares of CarMax in a report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, CarMax has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

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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