Royal Bank of Canada Has $12.13 Million Position in CarMax, Inc. $KMX

Key Points

• Royal Bank of Canada increased its CarMax stake by 31.1% in the first quarter, acquiring 69,198 additional shares and bringing its holdings to 291,671 shares valued at approximately $12.13 million.
• CarMax reported quarterly EPS of $1.31, exceeding the $0.96 analyst consensus, while revenue of $8.01 billion surpassed expectations and rose 6.2% year over year.
• CarMax insiders purchased 13,900 shares worth $735,574 over the past 90 days. Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $51.00.

Royal Bank of Canada increased its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 31.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,671 shares of the company's stock after purchasing an additional 69,198 shares during the period. Royal Bank of Canada owned 0.21% of CarMax worth $12,128,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of KMX. Huntington National Bank boosted its position in CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company's stock valued at $27,000 after buying an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of CarMax during the second quarter valued at $28,000. MUFG Securities EMEA plc acquired a new position in shares of CarMax during the second quarter valued at $30,000. Advisory Services Network LLC bought a new position in CarMax in the third quarter valued at about $32,000. Finally, Commonwealth Retirement Investments LLC bought a new position in CarMax in the fourth quarter valued at about $33,000.

CarMax Trading Up 0.2%

NYSE KMX opened at $58.15 on Friday. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $62.56. The stock has a 50-day simple moving average of $53.29 and a 200 day simple moving average of $46.10. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $8.25 billion, a PE ratio of 38.01, a P/E/G ratio of 2.66 and a beta of 1.15.

CarMax (NYSE:KMX - Get Free Report) last issued its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.35. The firm had revenue of $8.01 billion for the quarter, compared to analysts' expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company's revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. Research analysts forecast that CarMax, Inc. will post 2.73 EPS for the current year.

Insider Activity at CarMax

In other news, CEO Keith Barr bought 9,400 shares of the stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the completion of the purchase, the chief executive officer owned 33,375 shares of the company's stock, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter J. Bensen bought 2,500 shares of the business's stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director owned 24,796 shares of the company's stock, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 13,900 shares of company stock worth $735,574 in the last ninety days. Company insiders own 1.01% of the company's stock.

Analyst Ratings Changes

KMX has been the subject of several recent research reports. Robert W. Baird boosted their price objective on CarMax from $48.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, June 18th. Bank of America raised their target price on shares of CarMax from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Wednesday, June 17th. Morgan Stanley lifted their price target on shares of CarMax from $35.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 23rd. Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and set a $66.00 price target for the company in a research note on Thursday, June 18th. Finally, Royal Bank Of Canada increased their price objective on shares of CarMax from $41.00 to $45.00 and gave the company a "sector perform" rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $51.00.

CarMax Profile

CarMax NYSE: KMX is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company's inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax's retail locations or browse the company's online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.

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