Edgestream Partners L.P. Makes New $8.82 Million Investment in CarMax, Inc. (NYSE:KMX)

Edgestream Partners L.P. purchased a new position in CarMax, Inc. (NYSE:KMX) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 113,225 shares of the company’s stock, valued at approximately $8,822,000. Edgestream Partners L.P. owned about 0.07% of CarMax at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in KMX. Victory Capital Management Inc. raised its holdings in shares of CarMax by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 53,859 shares of the company’s stock worth $4,404,000 after purchasing an additional 930 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of CarMax during the fourth quarter worth $2,173,000. HighTower Advisors LLC raised its holdings in shares of CarMax by 41.5% during the fourth quarter. HighTower Advisors LLC now owns 8,021 shares of the company’s stock worth $656,000 after purchasing an additional 2,353 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of CarMax by 10.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company’s stock worth $261,000 after purchasing an additional 307 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of CarMax by 107.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,867 shares of the company’s stock worth $316,000 after purchasing an additional 1,999 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. Evercore ISI dropped their price target on shares of CarMax from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 28th. Needham & Company LLC restated a “buy” rating and set a $92.00 price target on shares of CarMax in a research report on Monday, June 23rd. Morgan Stanley started coverage on shares of CarMax in a research report on Tuesday, July 1st. They set an “overweight” rating and a $80.00 price target on the stock. Finally, 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CarMax currently has a consensus rating of “Moderate Buy” and an average price target of $84.45.

Insider Transactions at CarMax

In related news, EVP Jon G. Daniels sold 1,540 shares of the business’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. The trade was a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mitchell D. Steenrod purchased 1,300 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director directly owned 33,577 shares of the company’s stock, valued at $2,198,957.73. The trade was a 4.03% increase in their position. The disclosure for this purchase can be found here. 1.70% of the stock is owned by insiders.

CarMax Stock Down 3.8%

KMX stock opened at $64.37 on Monday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.04 and a beta of 1.38. The firm has a 50-day simple moving average of $66.46 and a 200-day simple moving average of $73.56. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.20. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 earnings per share. Equities analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

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.