Assenagon Asset Management S.A. Acquires 3,171 Shares of CarMax, Inc. $KMX

Assenagon Asset Management S.A. boosted its holdings in CarMax, Inc. (NYSE:KMX) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,999 shares of the company’s stock after acquiring an additional 3,171 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CarMax were worth $2,285,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. lifted its position in shares of CarMax by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 3,093,632 shares of the company’s stock worth $241,056,000 after buying an additional 206,106 shares in the last quarter. Invesco Ltd. lifted its position in shares of CarMax by 4.9% during the 1st quarter. Invesco Ltd. now owns 2,863,594 shares of the company’s stock worth $223,131,000 after buying an additional 133,629 shares in the last quarter. First Pacific Advisors LP lifted its position in shares of CarMax by 0.8% during the 1st quarter. First Pacific Advisors LP now owns 2,415,974 shares of the company’s stock worth $188,253,000 after buying an additional 18,912 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of CarMax by 1.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,521,704 shares of the company’s stock worth $118,571,000 after buying an additional 20,800 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of CarMax by 7.8% during the 1st quarter. AQR Capital Management LLC now owns 1,509,344 shares of the company’s stock worth $115,887,000 after buying an additional 109,332 shares in the last quarter.

Insiders Place Their Bets

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the firm’s 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 sale, the executive vice president owned 2,779 shares of the company’s stock, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI dropped their target price on shares of CarMax from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Stephens decreased their target price on CarMax from $81.00 to $74.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. JPMorgan Chase & Co. raised their target price on CarMax from $58.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. Benchmark began coverage on CarMax in a research report on Thursday, July 17th. They issued a “buy” rating and a $75.00 target price for the company. Finally, Truist Financial raised their target price on CarMax from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.00.

CarMax Price Performance

Shares of NYSE KMX opened at $45.66 on Friday. The stock has a market cap of $6.85 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.35. CarMax, Inc. has a fifty-two week low of $42.75 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The stock has a fifty day moving average of $58.95 and a 200-day moving average of $65.00.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.39). The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. CarMax’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current 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.