Canada Pension Plan Investment Board purchased a new stake in CarMax, Inc. (NYSE:KMX – Free Report) in the second quarter, Holdings Channel reports. The firm purchased 2,183,121 shares of the company’s stock, valued at approximately $115,465,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc acquired a new position in CarMax in the second quarter worth $18,749,000. The Manufacturers Life Insurance Company acquired a new stake in shares of CarMax during the second quarter worth $128,001,000. Broad Run Investment Management LLC bought a new position in shares of CarMax in the 2nd quarter worth about $14,980,000. Aberdeen Wealth Management LLC bought a new position in shares of CarMax in the 2nd quarter worth about $39,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of CarMax in the 2nd quarter valued at about $433,000.
CarMax Stock Down 0.6%
CarMax stock opened at $63.82 on Thursday. The company has a 50-day simple moving average of $56.44 and a 200-day simple moving average of $47.37. The firm has a market capitalization of $9.06 billion, a P/E ratio of 41.71, a P/E/G ratio of 2.94 and a beta of 1.15. 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, Inc. has a one year low of $30.26 and a one year high of $65.28.
Insider Buying and Selling at CarMax
In other CarMax news, Director Sona Chawla acquired 2,000 shares of CarMax stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the transaction, the director owned 21,702 shares in the company, valued at approximately $1,158,669.78. This represents 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, Director Peter J. Bensen acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $52.20 per share, with a total value of $130,500.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 13,900 shares of company stock worth $735,574. 1.01% of the stock is owned by company insiders.
Analyst Ratings Changes
KMX has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on shares of CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Zacks Research upgraded CarMax from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Benchmark reaffirmed a “hold” rating on shares of CarMax in a report on Thursday, June 18th. Finally, Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $37.00 to $61.00 in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.00.
Check Out Our Latest Stock Report on KMX
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.
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