CarMax, Inc. $KMX Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in shares of CarMax, Inc. (NYSE:KMX) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,245,000 shares of the company’s stock after acquiring an additional 96,000 shares during the quarter. Renaissance Technologies LLC’s holdings in CarMax were worth $51,767,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Gabelli Funds LLC acquired a new stake in shares of CarMax in the 1st quarter worth about $2,981,000. Caxton Associates LLP boosted its stake in CarMax by 59.0% during the 1st quarter. Caxton Associates LLP now owns 54,765 shares of the company’s stock valued at $2,277,000 after purchasing an additional 20,327 shares during the period. Sei Investments Co. boosted its stake in CarMax by 0.4% during the 1st quarter. Sei Investments Co. now owns 144,292 shares of the company’s stock valued at $6,000,000 after purchasing an additional 579 shares during the period. First Trust Advisors LP grew its position in CarMax by 70.6% in the 1st quarter. First Trust Advisors LP now owns 331,434 shares of the company’s stock worth $13,781,000 after purchasing an additional 137,162 shares during the last quarter. Finally, Westpac Banking Corp bought a new position in CarMax in the 1st quarter worth about $60,000.

Insider Activity

In other CarMax news, Director Peter J. Bensen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the acquisition, the director directly owned 24,796 shares of the company’s stock, valued at $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Keith Barr bought 9,400 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $53.01 per share, with a total value of $498,294.00. Following the completion of the purchase, the chief executive officer owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 13,900 shares of company stock worth $735,574. Corporate insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

KMX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on CarMax from $37.00 to $38.00 and gave the company an “underweight” rating in a report on Thursday, June 18th. Robert W. Baird increased their price objective on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Morgan Stanley raised their target price on CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 23rd. Truist Financial lifted their target price on CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, June 18th. Finally, Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $37.00 to $61.00 in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $49.33.

CarMax Trading Up 0.0%

Shares of KMX stock opened at $58.31 on Monday. The stock has a 50-day simple moving average of $49.69 and a 200 day simple moving average of $45.21. The stock has a market capitalization of $8.27 billion, a P/E ratio of 38.11, a P/E/G ratio of 2.70 and a beta of 1.17. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $62.56. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the business earned $1.38 earnings per share. CarMax’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts expect that CarMax, Inc. will post 2.7 earnings per share for the current fiscal year.

CarMax Profile

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.