Delta Global Management LP bought a new stake in shares of CarMax, Inc. (NYSE:KMX – Free Report) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 52,536 shares of the company’s stock, valued at approximately $2,184,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC purchased a new position in CarMax during the 2nd quarter valued at $28,000. MUFG Securities EMEA plc bought a new position in CarMax in the 2nd quarter worth $30,000. Huntington National Bank lifted its position in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the period. Advisory Services Network LLC purchased a new stake in shares of CarMax in the 3rd quarter worth about $32,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of CarMax in the 4th quarter worth about $33,000.
Analysts Set New Price Targets
Several brokerages recently issued reports on KMX. Robert W. Baird boosted their price target on shares of CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Royal Bank Of Canada raised their price objective on shares of CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. lifted their price objective on CarMax from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday, June 18th. Mizuho upped their target price on CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Two investment 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 data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $49.33.
Insiders Place Their Bets
In other CarMax news, Director Peter J. Bensen purchased 2,500 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was purchased 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. This trade represents a 11.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sona Chawla purchased 2,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the acquisition, the director owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This represents a 10.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 13,900 shares of company stock valued at $735,574. Corporate insiders own 1.01% of the company’s stock.
CarMax Stock Performance
Shares of KMX stock opened at $58.31 on Friday. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $62.56. The stock has a market cap of $8.27 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. 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 company’s fifty day moving average price is $49.69 and its 200-day moving average price is $45.18.
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, topping analysts’ consensus estimates of $0.96 by $0.35. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. On average, equities analysts expect that CarMax, Inc. will post 2.7 EPS for the current fiscal 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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