Wealth Enhancement Advisory Services LLC Increases Position in CarMax, Inc. $KMX

Key Points

• Wealth Enhancement Advisory Services LLC has increased its holdings in CarMax, Inc. by 292.9%, owning 88,329 shares valued at approximately $6.24 million.
• JPMorgan Chase & Co. has raised CarMax's price target from $58.00 to $65.00 and maintained a "neutral" rating for the stock.
• Despite these changes, CarMax's shares have recently decreased by 0.6%, with a current trading price of $57.25.

Wealth Enhancement Advisory Services LLC raised its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 292.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,329 shares of the company's stock after purchasing an additional 65,850 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of CarMax worth $6,237,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Forum Financial Management LP raised its stake in CarMax by 15.2% during the fourth quarter. Forum Financial Management LP now owns 3,878 shares of the company's stock valued at $317,000 after buying an additional 512 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of CarMax during the fourth quarter valued at $53,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of CarMax in the 4th quarter worth about $8,848,000. Siemens Fonds Invest GmbH purchased a new position in shares of CarMax in the 4th quarter worth about $1,131,000. Finally, Centaurus Financial Inc. boosted its stake in CarMax by 32.1% in the 4th quarter. Centaurus Financial Inc. now owns 9,969 shares of the company's stock worth $815,000 after purchasing an additional 2,422 shares in the last quarter.

CarMax Trading Down 0.6%

NYSE:KMX opened at $57.25 on Thursday. The company has a market cap of $8.59 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.94 and a beta of 1.35. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The company has a 50 day simple moving average of $59.28 and a two-hundred day simple moving average of $65.20. CarMax, Inc. has a 12 month low of $54.53 and a 12 month high of $91.25.

Insider Activity at CarMax

In related 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 value of $108,785.60. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of CarMax from $58.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Mizuho cut their price target on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Truist Financial raised their price target 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. Needham & Company LLC restated a "buy" rating and issued a $92.00 price objective on shares of CarMax in a report on Monday, June 23rd. Finally, Evercore ISI cut their target price on CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.