Centaurus Financial Inc. Acquires New Holdings in CarMax, Inc. $KMX

Centaurus Financial Inc. bought a new stake in CarMax, Inc. (NYSE:KMX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,176 shares of the company’s stock, valued at approximately $644,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of CarMax by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after purchasing an additional 4,780,903 shares during the period. SRS Investment Management LLC increased its stake in CarMax by 1,717.5% during 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 in the last quarter. Jupiter Topco LLC bought a new stake in CarMax during the 2nd quarter worth approximately $245,676,000. Janus Henderson Group PLC raised its holdings in CarMax by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock worth $190,471,000 after buying an additional 49,987 shares during the period. Finally, Primecap Management Co. CA bought a new position in CarMax in the second quarter valued at approximately $230,548,000.

CarMax Stock Down 1.1%

Shares of KMX stock opened at $61.96 on Friday. The firm’s fifty day moving average price is $56.79 and its two-hundred day moving average price is $47.58. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $65.28. The firm has a market capitalization of $8.79 billion, a P/E ratio of 40.50, a PEG 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 for the quarter, beating the consensus estimate of $0.96 by $0.35. The company 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 revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 EPS. On average, equities analysts predict that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Insider Activity at CarMax

In related news, CEO Keith Barr purchased 9,400 shares of the stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the transaction, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sona Chawla acquired 2,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were bought at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the purchase, the director owned 21,702 shares in the company, valued at approximately $1,158,669.78. This represents a 10.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 13,900 shares of company stock valued at $735,574. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KMX shares. Bank of America increased their price objective on shares of CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 17th. Weiss Ratings raised CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Morgan Stanley lifted their price target on CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $37.00 to $61.00 in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised CarMax from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $38.00 to $60.00 in a research report on Wednesday, July 29th. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, CarMax has an average rating of “Hold” and a consensus price target of $51.00.

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.