Edgestream Partners L.P. Purchases Shares of 114,365 CarMax, Inc. $KMX

Edgestream Partners L.P. acquired a new position in CarMax, Inc. (NYSE:KMX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 114,365 shares of the company’s stock, valued at approximately $4,755,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of CarMax by 151.8% during the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after acquiring an additional 4,780,903 shares in the last quarter. SRS Investment Management LLC boosted its stake in CarMax by 1,717.5% in the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock valued at $217,845,000 after acquiring an additional 5,327,603 shares in the last quarter. Janus Henderson Group PLC boosted its stake in CarMax by 1.1% in the first quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock valued at $190,471,000 after acquiring an additional 49,987 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in CarMax by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company’s stock worth $177,767,000 after purchasing an additional 289,768 shares during the last quarter. Finally, Norges Bank purchased a new position in CarMax in the fourth quarter worth $159,232,000.

CarMax Stock Down 2.3%

NYSE:KMX opened at $57.33 on Friday. The company has a market cap of $8.14 billion, a PE ratio of 37.47, a P/E/G ratio of 2.72 and a beta of 1.17. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $62.56. 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 50 day moving average is $51.74 and its two-hundred day moving average is $45.73.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion for 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%. CarMax’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 EPS. Analysts anticipate that CarMax, Inc. will post 2.7 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KMX. Truist Financial upped their price target on CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, June 18th. Evercore set a $45.00 price objective on CarMax in a research report on Friday, April 10th. Weiss Ratings upgraded CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Argus raised CarMax to a “hold” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada upped their target price on CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $51.00.

Insider Activity

In related news, CEO Keith Barr acquired 9,400 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of $53.01 per share, with a total value of $498,294.00. Following the completion of the acquisition, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sona Chawla bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was purchased 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 $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 13,900 shares of company stock valued at $735,574 over the last ninety days. 1.01% of the stock is currently owned by insiders.

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.