Capstone Investment Advisors LLC Takes Position in CarMax, Inc. $KMX

Capstone Investment Advisors LLC purchased a new stake in CarMax, Inc. (NYSE:KMX) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 10,504 shares of the company’s stock, valued at approximately $556,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Basecamp Wealth Advisors LLC raised its holdings in CarMax by 105.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 327 shares during the period. Huntington National Bank boosted its stake in 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 during the period. CYBER HORNET ETFs LLC purchased a new position in CarMax during the second quarter worth about $28,000. Global Retirement Partners LLC acquired a new stake in shares of CarMax during the second quarter valued at about $29,000. Finally, Wellington Grp LLC increased its position in shares of CarMax by 6,500.0% during the first quarter. Wellington Grp LLC now owns 726 shares of the company’s stock valued at $30,000 after acquiring an additional 715 shares during the last quarter.

Analysts Set New Price Targets

KMX has been the topic of several recent analyst reports. Barclays upgraded shares of CarMax from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $37.00 to $61.00 in a report on Tuesday, July 21st. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a report on Thursday, June 18th. Weiss Ratings raised CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 20th. Zacks Research raised CarMax from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, UBS Group set a $60.00 price objective on CarMax in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.00.

CarMax Price Performance

Shares of NYSE KMX opened at $61.96 on Friday. The stock’s 50-day moving average is $56.79 and its two-hundred day moving average is $47.58. 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 $65.28. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 2.87 and a beta of 1.15.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter last year, the business posted $1.38 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Analysts forecast that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Insider Activity at CarMax

In other news, Director Peter J. Bensen purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the purchase, the director directly owned 24,796 shares of the company’s stock, valued at $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sona Chawla purchased 2,000 shares of the stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of $53.39 per share, with a total value of $106,780.00. Following the acquisition, the director directly owned 21,702 shares in the company, valued at $1,158,669.78. This represents a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 13,900 shares of company stock valued at $735,574 over the last 90 days. 1.01% of the stock is owned by corporate insiders.

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.