Renaissance Technologies LLC boosted its position in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,245,000 shares of the company’s stock after purchasing an additional 96,000 shares during the period. Renaissance Technologies LLC owned approximately 0.88% of CarMax worth $51,767,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in KMX. Huntington National Bank grew its stake in shares of CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in CarMax in the second quarter valued at about $28,000. MUFG Securities EMEA plc purchased a new position in CarMax in the second quarter valued at about $30,000. Advisory Services Network LLC acquired a new stake in CarMax during the 3rd quarter valued at approximately $32,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in CarMax during the 4th quarter worth approximately $33,000.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on KMX shares. Morgan Stanley upped 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. UBS Group upped their price target on shares of CarMax from $42.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Argus upgraded shares of CarMax to a “hold” rating in a research note on Thursday, April 16th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective for the company in a report on Thursday, June 18th. Finally, Benchmark reissued a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $49.33.
Insider Activity
In other CarMax news, Director Sona Chawla bought 2,000 shares of the business’s 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 completion of the acquisition, the director directly owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. The trade was a 10.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Keith Barr bought 9,400 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the acquisition, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $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 three months, insiders acquired 13,900 shares of company stock valued at $735,574. Company insiders own 1.01% of the company’s stock.
CarMax Stock Performance
Shares of KMX opened at $58.31 on Monday. The stock has a market capitalization of $8.27 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.17. The business’s fifty day moving average price is $49.69 and its 200 day moving average price is $45.21. 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 12-month low of $30.26 and a 12-month high of $62.56.
CarMax (NYSE:KMX – Get Free Report) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.35. The firm 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 firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Equities research analysts forecast that CarMax, Inc. will post 2.7 EPS for the current year.
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.
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