Baillie Gifford & Co. lifted its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 25.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 173,390 shares of the company's stock after purchasing an additional 35,451 shares during the quarter. Baillie Gifford & Co. owned about 0.11% of CarMax worth $12,716,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Baker Tilly Wealth Management LLC raised its holdings in CarMax by 4.6% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company's stock worth $217,000 after purchasing an additional 130 shares during the period. GAMMA Investing LLC lifted its holdings in CarMax by 6.5% in the first quarter. GAMMA Investing LLC now owns 2,156 shares of the company's stock valued at $188,000 after acquiring an additional 131 shares during the last quarter. Peoples Bank KS grew its holdings in shares of CarMax by 10.0% during the 2nd quarter. Peoples Bank KS now owns 1,479 shares of the company's stock worth $108,000 after purchasing an additional 135 shares during the period. Spire Wealth Management increased its position in shares of CarMax by 8.3% during the fourth quarter. Spire Wealth Management now owns 1,908 shares of the company's stock valued at $146,000 after acquiring an additional 147 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company's stock valued at $48,000 after purchasing an additional 155 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on KMX shares. Royal Bank of Canada increased their price objective on CarMax from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, June 24th. Morgan Stanley reissued an "overweight" rating and set a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Needham & Company LLC decreased their price objective on shares of CarMax from $91.00 to $87.00 and set a "buy" rating on the stock in a report on Monday, June 24th. Wedbush reiterated an "outperform" rating and set a $95.00 target price on shares of CarMax in a research report on Friday, August 16th. Finally, Argus raised CarMax to a "hold" rating in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $76.25.
View Our Latest Research Report on CarMax
Insider Buying and Selling at CarMax
In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now directly owns 15,609 shares of the company's stock, valued at approximately $1,249,032.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the transaction, the chief operating officer now directly owns 15,609 shares in the company, valued at approximately $1,249,032.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the business's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total transaction of $777,680.28. Following the sale, the chief financial officer now directly owns 20,260 shares of the company's stock, valued at $1,690,899.60. The disclosure for this sale can be found here. Insiders sold a total of 185,243 shares of company stock worth $14,893,042 over the last quarter. 1.66% of the stock is currently owned by insiders.
CarMax Price Performance
KMX stock traded up $3.65 during midday trading on Friday, reaching $85.78. 1,635,244 shares of the company's stock traded hands, compared to its average volume of 1,935,110. The company has a 50-day simple moving average of $77.37 and a two-hundred day simple moving average of $75.67. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 1.66 and a beta of 1.69.
CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business had revenue of $7.11 billion for the quarter, compared to analysts' expectations of $7.16 billion. During the same quarter in the previous year, the business posted $1.16 EPS. CarMax's revenue for the quarter was down 7.5% on a year-over-year basis. On average, analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current year.
CarMax Profile
(Free Report)
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.
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