Quantinno Capital Management LP Acquires 131,542 Shares of CarMax, Inc. $KMX

Quantinno Capital Management LP raised its stake in CarMax, Inc. (NYSE:KMX) by 83.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,409 shares of the company’s stock after purchasing an additional 131,542 shares during the period. Quantinno Capital Management LP’s holdings in CarMax were worth $11,992,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KMX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after purchasing an additional 173 shares during the period. Jones Financial Companies Lllp raised its position in CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares during the last quarter. Empowered Funds LLC boosted its position in CarMax by 12.5% during the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after buying an additional 585 shares during the period. Intech Investment Management LLC lifted its holdings in shares of CarMax by 61.7% during the first quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after purchasing an additional 7,307 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in CarMax during the 1st quarter worth about $727,000.

Insider Buying and Selling at CarMax

In other CarMax news, Director Peter J. Bensen purchased 2,500 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Keith Barr purchased 9,400 shares of CarMax stock in a transaction that occurred on Monday, June 22nd. The shares were 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 SEC filing for this purchase provides additional information. Insiders acquired a total of 13,900 shares of company stock worth $735,574 over the last three months. Company insiders own 1.01% of the company’s stock.

CarMax Trading Up 2.0%

Shares of KMX opened at $58.42 on Tuesday. The company has a market capitalization of $8.29 billion, a P/E ratio of 38.18, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $62.56. The firm’s 50 day simple moving average is $52.10 and its 200 day simple moving average is $45.82.

CarMax (NYSE:KMX) last released its quarterly 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 for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $1.38 earnings per share. Sell-side analysts forecast that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KMX has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective for the company in a research note on Thursday, June 18th. Weiss Ratings upgraded shares of CarMax from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. JPMorgan Chase & Co. upgraded CarMax from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $38.00 to $60.00 in a report on Wednesday, July 29th. Finally, Barclays raised shares of CarMax from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $37.00 to $61.00 in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $51.00.

CarMax Company 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.