Gabelli Funds LLC acquired a new position in shares of CarMax, Inc. (NYSE:KMX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,700 shares of the company’s stock, valued at approximately $2,981,000. Gabelli Funds LLC owned approximately 0.05% of CarMax as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Investment Management LLC boosted its stake in CarMax by 1,717.5% in the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after purchasing an additional 5,327,603 shares during the period. AQR Capital Management LLC raised its stake in shares of CarMax by 151.8% in the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the period. Norges Bank acquired a new stake in shares of CarMax in the 4th quarter valued at about $159,232,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of CarMax by 73.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock valued at $158,074,000 after purchasing an additional 1,494,205 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of CarMax by 1,467.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,149,000 shares of the company’s stock valued at $44,397,000 after purchasing an additional 1,075,700 shares in the last quarter.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on KMX. Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Argus raised CarMax to a “hold” rating in a research report on Thursday, April 16th. Bank of America upped their price target on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. raised their price target on shares of CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research note on Thursday, June 18th. Finally, UBS Group lifted their price objective on shares of CarMax from $42.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $49.33.
Insider Activity
In other CarMax news, Director Peter J. Bensen purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the purchase, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sona Chawla purchased 2,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were acquired at an average cost 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 approximately $1,158,669.78. The trade was a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 13,900 shares of company stock valued at $735,574 over the last three months. Insiders own 1.01% of the company’s stock.
CarMax Stock Up 0.7%
Shares of KMX stock opened at $58.83 on Wednesday. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $62.56. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.71 and a beta of 1.17. The firm’s 50-day moving average is $50.57 and its 200-day moving average is $45.45. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.
CarMax (NYSE:KMX – Get Free Report) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $1.38 earnings per share. Sell-side analysts predict that CarMax, Inc. will post 2.7 EPS for the current year.
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.
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