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.

COPYRIGHT VIOLATION NOTICE: “Engineers Gate Manager LP Invests $453,000 in CarMax Inc (KMX) Stock” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/09/18/engineers-gate-manager-lp-invests-453000-in-carmax-inc-kmx-stock.html.

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.

About CarMax

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.

Want to see what other hedge funds are holding KMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarMax Inc (NYSE:KMX).

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

Receive News & Stock Ratings for CarMax Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax Inc and related stocks with our FREE daily email newsletter.