Creative Planning boosted its position in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,943 shares of the company’s stock after purchasing an additional 1,531 shares during the period. Creative Planning’s holdings in CarMax were worth $1,837,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the company. Kinneret Advisory LLC grew its holdings in CarMax by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 5,192 shares of the company’s stock valued at $501,000 after purchasing an additional 116 shares during the last quarter. Securian Asset Management Inc. grew its holdings in CarMax by 1.2% during the 1st quarter. Securian Asset Management Inc. now owns 13,039 shares of the company’s stock valued at $838,000 after purchasing an additional 154 shares during the last quarter. Equitable Trust Co. grew its holdings in CarMax by 2.9% during the 1st quarter. Equitable Trust Co. now owns 5,451 shares of the company’s stock valued at $350,000 after purchasing an additional 154 shares during the last quarter. Virtue Capital Management LLC grew its holdings in CarMax by 4.7% during the 2nd quarter. Virtue Capital Management LLC now owns 3,963 shares of the company’s stock valued at $326,000 after purchasing an additional 178 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in CarMax by 0.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 21,530 shares of the company’s stock worth $1,384,000 after acquiring an additional 182 shares in the last quarter.
Analysts Set New Price Targets
A number of equities analysts have commented on KMX shares. Royal Bank of Canada dropped their target price on shares of CarMax from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, September 29th. Wedbush upgraded shares of CarMax from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $90.00 in a research note on Monday, September 25th. Morgan Stanley upped their target price on shares of CarMax from $75.00 to $80.00 in a research note on Wednesday, June 28th. Truist Financial dropped their target price on shares of CarMax from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Friday, September 29th. Finally, StockNews.com started coverage on shares of CarMax in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.80.
Insider Buying and Selling at CarMax
In other CarMax news, SVP Jon G. Daniels sold 7,783 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $85.25, for a total value of $663,500.75. Following the completion of the sale, the senior vice president now directly owns 1,525 shares in the company, valued at $130,006.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.66% of the stock is owned by insiders.
CarMax Price Performance
NYSE KMX opened at $69.08 on Thursday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.67 and a current ratio of 2.32. The firm’s 50 day moving average price is $79.16 and its 200-day moving average price is $76.42. CarMax, Inc. has a 52-week low of $52.10 and a 52-week high of $87.50. The company has a market cap of $10.96 billion, a PE ratio of 24.07, a P/E/G ratio of 1.44 and a beta of 1.45.
CarMax (NYSE:KMX – Get Free Report) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $7.02 billion. CarMax had a net margin of 1.68% and a return on equity of 7.14%. The company’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. Sell-side analysts forecast that CarMax, Inc. will post 3.01 EPS for the current fiscal year.
CarMax Company Profile
CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.
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