CarMax, Inc. $KMX Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in CarMax by 49.1%, owning 102,825 shares valued at approximately $7.89 million as of the latest SEC filing.
• Multiple institutional investors, including Mirae Asset Global Investments and Teacher Retirement System of Texas, have also raised their holdings in CarMax during the first quarter.
• CarMax reported earnings of $1.38 per share for the latest quarter, surpassing analysts' expectations, with revenue growth of 6.1% year-over-year.

Russell Investments Group Ltd. boosted its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 49.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 102,825 shares of the company's stock after purchasing an additional 33,867 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of CarMax worth $7,892,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Kovitz Investment Group Partners LLC grew its holdings in shares of CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after buying an additional 5,122,850 shares during the last quarter. Janus Henderson Group PLC lifted its position in CarMax by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company's stock worth $381,978,000 after acquiring an additional 29,715 shares during the period. Baird Financial Group Inc. lifted its position in CarMax by 4.3% during the 4th quarter. Baird Financial Group Inc. now owns 2,887,526 shares of the company's stock worth $236,084,000 after acquiring an additional 119,666 shares during the period. Invesco Ltd. grew its stake in shares of CarMax by 4.9% in the 1st quarter. Invesco Ltd. now owns 2,863,594 shares of the company's stock valued at $223,131,000 after purchasing an additional 133,629 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. increased its holdings in shares of CarMax by 2.2% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,590,071 shares of the company's stock valued at $211,764,000 after purchasing an additional 56,906 shares during the period.

CarMax Price Performance

CarMax stock traded up $2.1260 during mid-day trading on Friday, reaching $60.0160. The company had a trading volume of 1,811,819 shares, compared to its average volume of 2,813,410. The stock's 50-day simple moving average is $62.43 and its 200-day simple moving average is $69.00. CarMax, Inc. has a 1 year low of $54.53 and a 1 year high of $91.25. 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 company has a market capitalization of $9.01 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.94 and a beta of 1.36.

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

Analysts Set New Price Targets

Several brokerages have issued reports on KMX. Needham & Company LLC reissued a "buy" rating and issued a $92.00 price objective on shares of CarMax in a research note on Monday, June 23rd. JPMorgan Chase & Co. raised shares of 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. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Truist Financial raised their price objective 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. Finally, Mizuho lowered their price objective on CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. One 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 issued a Sell rating to the stock. According to MarketBeat, CarMax has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

Insider Buying and Selling at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of CarMax 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 completion of the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at $196,308.56. The trade was a 35.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.