National Bank of Canada FI Acquires 43,006 Shares of CarMax, Inc. (NYSE:KMX)

National Bank of Canada FI lifted its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 98.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,746 shares of the company's stock after acquiring an additional 43,006 shares during the period. National Bank of Canada FI owned approximately 0.06% of CarMax worth $6,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KMX. Citigroup Inc. grew its position in CarMax by 12.0% in the 1st quarter. Citigroup Inc. now owns 618,273 shares of the company's stock worth $48,176,000 after purchasing an additional 66,308 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CarMax by 11.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,787 shares of the company's stock worth $21,489,000 after purchasing an additional 27,535 shares in the last quarter. 1834 Investment Advisors Co. grew its position in CarMax by 7.0% in the 1st quarter. 1834 Investment Advisors Co. now owns 6,812 shares of the company's stock worth $531,000 after purchasing an additional 447 shares in the last quarter. Altfest L J & Co. Inc. bought a new stake in CarMax in the 1st quarter worth about $465,000. Finally, Elgethun Capital Management grew its position in CarMax by 0.6% in the 1st quarter. Elgethun Capital Management now owns 61,907 shares of the company's stock worth $4,824,000 after purchasing an additional 360 shares in the last quarter.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. This represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

CarMax Stock Performance

Shares of KMX stock opened at $58.60 on Thursday. The stock has a market capitalization of $8.79 billion, a P/E ratio of 16.19, a PEG ratio of 0.92 and a beta of 1.36. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The firm's 50 day moving average is $63.55 and its 200 day moving average is $70.29. CarMax, Inc. has a 12 month low of $54.53 and a 12 month high of $91.25.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KMX. Benchmark began coverage on shares of CarMax in a research report on Thursday, July 17th. They issued a "buy" rating and a $75.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price objective on shares of CarMax in a research report on Wednesday, June 18th. Truist Financial increased their target price on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley assumed coverage on shares of CarMax in a research report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, CarMax currently has a consensus rating of "Moderate Buy" and an average target price of $82.75.

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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