Voya Investment Management LLC Has $6.93 Million Stock Holdings in CarMax, Inc. $KMX

Key Points

• Voya Investment Management LLC increased its stake in CarMax, Inc. by 11.5% during the 1st quarter, owning approximately 0.06% of the company, valued at $6.93 million.
• Several analysts recently adjusted their price targets for CarMax, with the consensus rating being a "Moderate Buy" and an average price target of $80.92.
• CarMax reported earnings of $1.38 per share for the last quarter, surpassing analysts' estimates of $1.18, despite a slight revenue decrease compared to projections.

Voya Investment Management LLC boosted its position in CarMax, Inc. (NYSE:KMX - Free Report) by 11.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,958 shares of the company's stock after purchasing an additional 9,152 shares during the quarter. Voya Investment Management LLC owned about 0.06% of CarMax worth $6,932,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KMX. Fuller & Thaler Asset Management Inc. boosted its stake in CarMax by 626.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company's stock valued at $70,364,000 after purchasing an additional 778,652 shares during the period. GAMMA Investing LLC lifted its position in shares of CarMax by 8,675.6% during the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock valued at $40,193,000 after acquiring an additional 509,952 shares during the period. Nuveen LLC bought a new stake in shares of CarMax during the 1st quarter valued at $33,872,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of CarMax during the 1st quarter valued at $16,370,000. Finally, Wellington Management Group LLP lifted its position in shares of CarMax by 34.2% during the 1st quarter. Wellington Management Group LLP now owns 815,461 shares of the company's stock valued at $63,541,000 after acquiring an additional 207,665 shares during the period.

CarMax Trading Down 2.6%

CarMax stock traded down $1.58 during trading hours on Friday, hitting $58.42. The stock had a trading volume of 5,808,787 shares, compared to its average volume of 2,424,319. 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 stock has a market cap of $8.77 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 0.98 and a beta of 1.35. CarMax, Inc. has a one year low of $54.53 and a one year high of $91.25. The business's 50 day simple moving average is $59.63 and its 200-day simple moving average is $65.61.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KMX shares. JPMorgan Chase & Co. upped their target price on CarMax from $58.00 to $65.00 and gave the company a "neutral" rating in a research report on Thursday. Morgan Stanley started coverage on CarMax in a research report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price for the company. Benchmark started coverage on CarMax in a research report on Thursday, July 17th. They set a "buy" rating and a $75.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and set a $92.00 target price on shares of CarMax in a research report on Monday, June 23rd. Finally, Stephens dropped their price objective on CarMax from $81.00 to $74.00 and set an "overweight" rating for the company in a research report on Monday, September 15th. One investment 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 given a Sell rating to the company's stock. Based on data from MarketBeat, CarMax has a consensus rating of "Moderate Buy" and an average target price of $81.50.

Insider Buying and Selling

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the transaction, the executive vice president directly owned 2,779 shares in the company, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

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.