Landscape Capital Management L.L.C. Buys Shares of 154,677 CarMax, Inc. $KMX

Landscape Capital Management L.L.C. bought a new position in shares of CarMax, Inc. (NYSE:KMX) during the 2nd quarter, Holdings Channel reports. The fund bought 154,677 shares of the company’s stock, valued at approximately $8,181,000. CarMax accounts for approximately 0.5% of Landscape Capital Management L.L.C.’s portfolio, making the stock its 23rd largest holding.

A number of other large investors have also made changes to their positions in KMX. SRS Investment Management LLC lifted its stake in shares of 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 purchasing an additional 5,327,603 shares during the period. AQR Capital Management LLC grew its position in 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 buying an additional 4,780,903 shares during the period. Norges Bank purchased a new position in CarMax in the fourth quarter valued at about $159,232,000. Arrowstreet Capital Limited Partnership increased its holdings in 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 buying an additional 1,494,205 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of CarMax during the 1st quarter valued at approximately $48,634,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KMX shares. Zacks Research raised CarMax from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Benchmark reaffirmed a “hold” rating on shares of CarMax in a report on Thursday, June 18th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings raised CarMax from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Finally, Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $37.00 to $61.00 in a research report on Tuesday, July 21st. One 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 given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.00.

Insiders Place Their Bets

In related news, Director Peter J. Bensen purchased 2,500 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was bought at an average price of $52.20 per share, with a total value of $130,500.00. Following the completion of the transaction, the director owned 24,796 shares of the company’s stock, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sona Chawla purchased 2,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $53.39 per share, with a total value 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. The trade was a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 13,900 shares of company stock valued at $735,574. Corporate insiders own 1.01% of the company’s stock.

CarMax Stock Up 1.8%

KMX stock opened at $62.14 on Friday. The company’s 50 day simple moving average is $55.65 and its 200-day simple moving average is $46.98. The firm has a market capitalization of $8.82 billion, a PE ratio of 40.61, a P/E/G ratio of 2.79 and a beta of 1.15. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $63.00. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82.

CarMax (NYSE:KMX) last issued its quarterly earnings data 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. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period last year, the company posted $1.38 EPS. The company’s revenue was up 6.2% on a year-over-year basis. Equities analysts expect that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

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.