2,420,139 Shares in CarMax, Inc. $KMX Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in CarMax, Inc. (NYSE:KMX) during the 2nd quarter, HoldingsChannel reports. The fund purchased 2,420,139 shares of the company’s stock, valued at approximately $128,001,000.

A number of other large investors have also recently bought and sold shares of the stock. CYBER HORNET ETFs LLC acquired a new stake in shares of CarMax in the 2nd quarter valued at $28,000. MUFG Securities EMEA plc acquired a new position in CarMax in the second quarter valued at about $30,000. Global Retirement Partners LLC bought a new stake in CarMax during the second quarter worth about $29,000. Basecamp Wealth Advisors LLC grew its stake in CarMax by 105.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock worth $26,000 after buying an additional 327 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after buying an additional 265 shares in the last quarter.

CarMax Trading Up 2.2%

KMX opened at $64.17 on Wednesday. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. The stock has a market capitalization of $9.11 billion, a PE ratio of 41.94, a PEG ratio of 2.87 and a beta of 1.15. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $64.59. The firm has a 50-day moving average price of $56.11 and a two-hundred day moving average price of $47.24.

CarMax (NYSE:KMX) last announced its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, Director Peter J. Bensen acquired 2,500 shares of CarMax stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $52.20 per share, with a total value of $130,500.00. Following the acquisition, the director owned 24,796 shares in the company, valued at $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith Barr acquired 9,400 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was purchased 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 directly owned 33,375 shares in the company, valued at approximately $1,769,208.75. The trade was a 39.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 13,900 shares of company stock valued at $735,574 over the last quarter. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Bank of America lifted their target price on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada increased their price target on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price target for the company in a report on Thursday, June 18th. Mizuho lifted their price objective on CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Finally, Benchmark reissued a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.