True North Advisors LLC Buys 17,513 Shares of CarMax, Inc. $KMX

Key Points

• True North Advisors LLC has increased its stake in CarMax, Inc. by 30.8%, acquiring an additional 17,513 shares, bringing its total holdings to 74,292 shares.
• CarMax's stock has seen a significant decline, down 20.0%, with shares trading at $45.66 compared to a 12-month high of $91.25.
• The company reported disappointing quarterly earnings, with an EPS of $0.64 and revenue of $6.59 billion, both missing analysts' expectations.

True North Advisors LLC increased its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 30.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,292 shares of the company's stock after acquiring an additional 17,513 shares during the quarter. CarMax comprises approximately 1.0% of True North Advisors LLC's holdings, making the stock its 21st largest holding. True North Advisors LLC's holdings in CarMax were worth $4,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in CarMax by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company's stock valued at $1,571,000 after buying an additional 2,375 shares during the period. Teacher Retirement System of Texas bought a new stake in CarMax in the 1st quarter valued at $1,753,000. Sequoia Financial Advisors LLC increased its holdings in CarMax by 5.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock valued at $262,000 after buying an additional 176 shares during the period. Wedge Capital Management L L P NC increased its holdings in CarMax by 54.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 102,632 shares of the company's stock valued at $6,898,000 after buying an additional 36,376 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in CarMax by 3.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock valued at $4,726,000 after buying an additional 2,078 shares during the period.

CarMax Stock Down 20.0%

Shares of NYSE:KMX opened at $45.66 on Friday. CarMax, Inc. has a 12 month low of $42.75 and a 12 month high of $91.25. The company's 50-day moving average price is $58.95 and its two-hundred day moving average price is $65.00. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The firm has a market cap of $6.85 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.93 and a beta of 1.35.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $1.03 by ($0.39). CarMax had a return on equity of 9.11% and a net margin of 2.09%.The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the company earned $0.85 EPS. The firm's revenue was down 6.0% compared to the same quarter last year. As a group, research analysts forecast that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the company's 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 transaction, the executive vice president directly owned 2,779 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on KMX. Truist Financial boosted their price target on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Benchmark assumed coverage on shares of CarMax in a research note on Thursday, July 17th. They issued a "buy" rating and a $75.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Wedbush downgraded shares of CarMax from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $84.00 to $54.00 in a research note on Thursday. Finally, Needham & Company LLC restated a "buy" rating and issued a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $79.00.

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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