Nuveen LLC Takes $33.87 Million Position in CarMax, Inc. $KMX

Key Points

• Nuveen LLC invested approximately $33.87 million in CarMax, acquiring 434,697 shares, constituting about 0.28% of the company's ownership.
• Recent analyst reports show mixed ratings for CarMax, with one upgrade to a "hold" rating, while the consensus rating is a "Moderate Buy" with a price target of $82.75.
• CarMax reported an earnings per share (EPS) of $1.38 for the last quarter, exceeding estimates, while revenue was slightly below expectations at $7.55 billion.

Nuveen LLC bought a new position in CarMax, Inc. (NYSE:KMX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 434,697 shares of the company's stock, valued at approximately $33,872,000. Nuveen LLC owned about 0.28% of CarMax at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new position in shares of CarMax during the 1st quarter worth about $27,000. Accent Capital Management LLC acquired a new position in CarMax during the 1st quarter valued at approximately $34,000. Strengthening Families & Communities LLC increased its stake in CarMax by 93.1% during the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock valued at $39,000 after purchasing an additional 256 shares in the last quarter. Ameriflex Group Inc. acquired a new position in CarMax during the 4th quarter valued at approximately $53,000. Finally, Colonial Trust Co SC increased its stake in CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after purchasing an additional 693 shares in the last quarter.

CarMax Trading Down 1.4%

CarMax stock traded down $0.8030 during midday trading on Wednesday, hitting $58.5770. 1,933,958 shares of the stock were exchanged, compared to its average volume of 2,937,503. CarMax, Inc. has a fifty-two week low of $54.53 and a fifty-two week high of $91.25. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.95 and a beta of 1.36. The stock's 50-day simple moving average is $62.89 and its 200 day simple moving average is $69.43. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86.

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, topping the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.58 billion. During the same period last year, the business earned $0.97 earnings per share. CarMax's revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KMX. JPMorgan Chase & Co. upgraded shares of CarMax from an "underweight" rating to a "neutral" rating and cut their price target for the company from $65.00 to $58.00 in a research note on Wednesday, August 6th. Benchmark assumed coverage on shares of CarMax in a report on Thursday, July 17th. They issued a "buy" rating and a $75.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $92.00 price objective on shares of CarMax in a report on Monday, June 23rd. Royal Bank Of Canada upped their price objective on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Finally, Mizuho lowered their price target on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Insiders Place Their Bets

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

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.