State of Alaska Department of Revenue Buys New Position in CarMax Inc (KMX)
State of Alaska Department of Revenue bought a new stake in CarMax Inc (NYSE:KMX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,780 shares of the company’s stock, valued at approximately $112,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in KMX. BlackRock Inc. raised its position in shares of CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock valued at $656,668,000 after buying an additional 10,752,554 shares during the period. William Blair Investment Management LLC acquired a new position in CarMax during the first quarter valued at approximately $47,370,000. Morgan Stanley raised its position in CarMax by 156.4% in the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock valued at $27,019,000 after buying an additional 278,328 shares during the last quarter. Russell Investments Group Ltd. raised its position in CarMax by 42.2% in the first quarter. Russell Investments Group Ltd. now owns 869,717 shares of the company’s stock valued at $51,505,000 after buying an additional 258,213 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in CarMax by 1.4% in the first quarter. Vanguard Group Inc. now owns 17,805,146 shares of the company’s stock valued at $1,054,422,000 after buying an additional 247,809 shares during the last quarter.
CarMax Inc (NYSE:KMX) traded up 0.77% during mid-day trading on Friday, reaching $64.42. 944,395 shares of the company’s stock were exchanged. The company has a market capitalization of $11.80 billion, a P/E ratio of 18.50 and a beta of 1.34. The company’s 50 day moving average price is $64.65 and its 200-day moving average price is $62.81. CarMax Inc has a 52 week low of $47.50 and a 52 week high of $69.11.
CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 21st. The company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.15. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.46 billion. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. On average, equities research analysts expect that CarMax Inc will post $3.70 earnings per share for the current fiscal year.
KMX has been the subject of several recent research reports. Oppenheimer Holdings, Inc. set a $72.00 price objective on shares of CarMax and gave the company a “buy” rating in a research note on Friday, April 21st. Zacks Investment Research raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Monday, April 24th. Wedbush raised shares of CarMax from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $60.00 to $70.00 in a research note on Thursday, May 18th. ValuEngine lowered shares of CarMax from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Finally, Royal Bank Of Canada raised shares of CarMax from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $63.00 to $69.00 in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. CarMax presently has an average rating of “Buy” and a consensus price target of $69.00.
In related news, Director Thomas J. Folliard sold 50,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $61.41, for a total transaction of $3,070,500.00. Following the transaction, the director now directly owns 509,166 shares in the company, valued at $31,267,884.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $66.87, for a total value of $573,945.21. Following the transaction, the chief financial officer now owns 70,522 shares in the company, valued at $4,715,806.14. The disclosure for this sale can be found here. Insiders have sold 188,515 shares of company stock worth $12,085,019 over the last 90 days. 1.70% of the stock is currently owned by company insiders.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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