Engineers Gate Manager LP Invests $453,000 in CarMax Inc (KMX) Stock
Engineers Gate Manager LP bought a new position in shares of CarMax Inc (NYSE:KMX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,191 shares of the company’s stock, valued at approximately $453,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of KMX. BlackRock Inc. increased its holdings in CarMax by 3,199.4% during the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock worth $656,668,000 after buying an additional 10,752,554 shares during the last quarter. William Blair Investment Management LLC acquired a new position in CarMax during the first quarter worth $47,370,000. Principal Financial Group Inc. increased its holdings in CarMax by 8.3% during the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock worth $578,702,000 after buying an additional 706,369 shares during the last quarter. Marathon Asset Management LLP increased its holdings in CarMax by 68.5% during the second quarter. Marathon Asset Management LLP now owns 754,913 shares of the company’s stock worth $47,605,000 after buying an additional 306,901 shares during the last quarter. Finally, Morgan Stanley increased its holdings in CarMax by 156.4% during the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock worth $27,019,000 after buying an additional 278,328 shares during the last quarter.
KMX has been the topic of a number of recent analyst reports. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of CarMax in a report on Friday, September 1st. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 target price on the stock in a report on Wednesday, August 16th. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Deutsche Bank AG restated a “buy” rating and set a $73.00 target price (up from $71.00) on shares of CarMax in a report on Thursday, June 22nd. Finally, Bank of America Corporation restated a “buy” rating and set a $82.00 target price (up from $80.00) on shares of CarMax in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. CarMax currently has a consensus rating of “Buy” and an average target price of $70.82.
CarMax Inc (NYSE KMX) opened at 68.08 on Monday. The firm has a market capitalization of $12.48 billion, a P/E ratio of 19.55 and a beta of 1.32. CarMax Inc has a 12-month low of $47.50 and a 12-month high of $69.92. The firm has a 50 day moving average of $66.00 and a 200 day moving average of $62.68.
CarMax (NYSE:KMX) last announced its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.15. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the firm posted $0.90 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that CarMax Inc will post $3.72 EPS for the current fiscal year.
In other 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 completion of the sale, the director now directly owns 509,166 shares of the company’s stock, valued at approximately $31,267,884.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Edwin J. Hill sold 35,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $64.88, for a total value of $2,270,800.00. Following the sale, the executive vice president now directly owns 39,792 shares of the company’s stock, valued at $2,581,704.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,515 shares of company stock valued at $12,085,019. Insiders own 1.90% of the company’s stock.
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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