CarMax, Inc. $KMX Holdings Lifted by Steward Partners Investment Advisory LLC

Key Points

• Steward Partners Investment Advisory LLC increased its stake in CarMax, owning 68,100 shares valued at $5.31 million after purchasing an additional 6,874 shares in the 1st quarter.
• CarMax's recent quarterly earnings report showed EPS of $1.38, outperforming expectations, while their revenue reached $7.55 billion, a 6.1% increase from the previous year.
• Analysts maintain a "Moderate Buy" rating on CarMax, with various price targets ranging from $58.00 to $81.50, indicating a divided outlook on the stock's future performance.

Steward Partners Investment Advisory LLC increased its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,100 shares of the company's stock after purchasing an additional 6,874 shares during the period. Steward Partners Investment Advisory LLC's holdings in CarMax were worth $5,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in KMX. Rockefeller Capital Management L.P. purchased a new stake in CarMax during the 4th quarter worth $829,000. Canada Pension Plan Investment Board boosted its position in CarMax by 155.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 62,800 shares of the company's stock worth $5,135,000 after purchasing an additional 38,200 shares during the period. Forum Financial Management LP boosted its position in CarMax by 15.2% during the 4th quarter. Forum Financial Management LP now owns 3,878 shares of the company's stock worth $317,000 after purchasing an additional 512 shares during the period. First Trust Advisors LP boosted its position in CarMax by 5.9% during the 4th quarter. First Trust Advisors LP now owns 70,652 shares of the company's stock worth $5,777,000 after purchasing an additional 3,916 shares during the period. Finally, Norinchukin Bank The boosted its position in CarMax by 7.3% during the 4th quarter. Norinchukin Bank The now owns 6,870 shares of the company's stock worth $562,000 after purchasing an additional 466 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Truist Financial boosted their price objective on shares of CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a report on Monday, June 23rd. 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. Stephens reiterated an "overweight" rating and issued a $81.00 price objective on shares of CarMax in a report on Tuesday. Evercore ISI cut their price objective on shares of CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada boosted their price objective on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

Insiders Place Their Bets

In related 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 sale, the executive vice president owned 2,779 shares in the company, valued at $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

CarMax Stock Performance

KMX traded up $2.1260 on Friday, hitting $60.0160. 1,811,819 shares of the company's stock were exchanged, compared to its average volume of 2,813,410. The firm has a market cap of $9.01 billion, a PE ratio of 16.58, a P/E/G ratio of 0.94 and a beta of 1.36. CarMax, Inc. has a twelve month low of $54.53 and a twelve month high of $91.25. The stock has a fifty day moving average of $62.43 and a two-hundred day moving average of $69.00. 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 for the quarter, topping 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 net margin of 2.09% and a return on equity of 9.11%. CarMax's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current fiscal 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.