Mitsubishi UFJ Asset Management Co. Ltd. Has $21.49 Million Stock Holdings in CarMax, Inc. (NYSE:KMX)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its stake in CarMax, Inc. by 11.1%, acquiring an additional 27,535 shares, bringing its total ownership to 275,787 shares valued at approximately $21.49 million.
• Other institutional investors have also made significant changes to their positions in CarMax, with notable increases from firms such as Colonial Trust Co SC and Parallel Advisors LLC.
• Despite reporting a quarterly earnings exceedance of analysts' expectations, CarMax's stock has seen a decline of 0.6%, with varied analyst ratings and price targets reflecting mixed market sentiment.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CarMax, Inc. (NYSE:KMX - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 275,787 shares of the company's stock after purchasing an additional 27,535 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of CarMax worth $21,489,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC increased its holdings in shares of CarMax by 348.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock valued at $539,213,000 after acquiring an additional 5,122,850 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock valued at $114,465,000 after acquiring an additional 634,390 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of CarMax by 8,675.6% during the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock valued at $40,193,000 after acquiring an additional 509,952 shares during the last quarter. ThornTree Capital Partners LP acquired a new position in shares of CarMax during the 4th quarter valued at about $35,612,000. Finally, Raymond James Financial Inc. acquired a new position in shares of CarMax during the 4th quarter valued at about $31,061,000.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial raised 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. Morgan Stanley assumed coverage on CarMax in a report on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of CarMax in a report on Wednesday, June 18th. JPMorgan Chase & Co. raised CarMax from an "underweight" rating to a "neutral" rating and lowered their target price for the company from $65.00 to $58.00 in a report on Wednesday, August 6th. Finally, Benchmark began coverage on CarMax in a report on Thursday, July 17th. They set a "buy" rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CarMax currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.75.

Insider Buying and Selling

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

CarMax Stock Down 0.8%

NYSE KMX traded down $0.46 during trading hours on Thursday, hitting $58.16. 2,099,553 shares of the company traded hands, compared to its average volume of 2,949,325. The business's 50-day moving average is $63.55 and its 200-day moving average is $70.29. CarMax, Inc. has a twelve month low of $54.53 and a twelve month high of $91.25. 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 stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 0.92 and a beta of 1.36.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.20. The firm 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%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. Sell-side analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

CarMax Company 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.