CarMax, Inc. $KMX Stock Position Raised by CX Institutional

CX Institutional increased its stake in shares of CarMax, Inc. (NYSE:KMX) by 16.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,676 shares of the company’s stock after acquiring an additional 532 shares during the period. CX Institutional’s holdings in CarMax were worth $247,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in shares of CarMax during the 1st quarter valued at about $27,000. Accent Capital Management LLC acquired a new position in shares of CarMax during the 1st quarter valued at about $34,000. Strengthening Families & Communities LLC increased its holdings in shares of CarMax by 93.1% during the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after acquiring an additional 256 shares during the last quarter. Quarry LP increased its holdings in shares of CarMax by 50.5% during the 1st quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after acquiring an additional 233 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of CarMax by 49.2% during the 1st quarter. Blue Trust Inc. now owns 898 shares of the company’s stock valued at $70,000 after acquiring an additional 296 shares during the last quarter.

CarMax Price Performance

Shares of KMX stock opened at $44.86 on Friday. The stock has a 50 day moving average of $58.59 and a two-hundred day moving average of $64.75. The company has a current ratio of 2.46, a quick ratio of 0.80 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 12 month low of $42.75 and a 12 month high of $91.25. The company has a market capitalization of $6.73 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.73 and a beta of 1.35.

CarMax (NYSE:KMX) last announced 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 8.51% and a net margin of 1.98%.The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the business posted $0.85 EPS. CarMax’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts expect that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Activity at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on KMX shares. Benchmark started coverage on CarMax in a report on Thursday, July 17th. They set a “buy” rating and a $75.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on CarMax from $58.00 to $65.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Stephens lowered their target price on CarMax from $74.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday. Oppenheimer reaffirmed a “market perform” rating on shares of CarMax in a report on Friday. Finally, Needham & Company LLC lowered their target price on CarMax from $92.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CarMax currently has an average rating of “Moderate Buy” and an average price target of $63.31.

About CarMax

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.