True North Advisors LLC Takes Position in CarMax, Inc. $KMX

True North Advisors LLC purchased a new stake in shares of CarMax, Inc. (NYSE:KMX) during the first quarter, HoldingsChannel reports. The institutional investor purchased 86,635 shares of the company’s stock, valued at approximately $3,602,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SRS Investment Management LLC raised its holdings in CarMax by 1,717.5% in the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after acquiring an additional 5,327,603 shares during the last quarter. AQR Capital Management LLC boosted its stake in CarMax by 151.8% during the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the last quarter. Norges Bank purchased a new stake in CarMax during the 4th quarter valued at $159,232,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of CarMax by 73.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after purchasing an additional 1,494,205 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of CarMax by 1,467.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,149,000 shares of the company’s stock worth $44,397,000 after purchasing an additional 1,075,700 shares in the last quarter.

Insider Buying and Selling

In other news, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the transaction, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sona Chawla bought 2,000 shares of the stock in a transaction on Thursday, June 25th. The stock was purchased at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the acquisition, the director owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This trade represents a 10.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 13,900 shares of company stock valued at $735,574 over the last 90 days. Company insiders own 1.01% of the company’s stock.

CarMax Trading Down 1.9%

NYSE:KMX opened at $57.37 on Friday. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $63.74. The company has a market cap of $8.14 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. The company has a 50 day simple moving average of $47.73 and a two-hundred day simple moving average of $44.53.

CarMax (NYSE:KMX) last announced its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. Research analysts forecast that CarMax, Inc. will post 2.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KMX. Evercore set a $45.00 price target on CarMax in a research note on Friday, April 10th. Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Bank of America lifted their price objective on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a report on Wednesday, June 17th. Argus raised CarMax to a “hold” rating in a research report on Thursday, April 16th. Finally, Wall Street Zen upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $47.73.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.