DNB Asset Management AS Buys 4,606 Shares of CarMax, Inc. (NYSE:KMX)

DNB Asset Management AS increased its stake in shares of CarMax, Inc. (NYSE:KMX) by 20.7% in the second quarter, HoldingsChannel reports. The firm owned 26,838 shares of the company’s stock after buying an additional 4,606 shares during the period. DNB Asset Management AS’s holdings in CarMax were worth $1,968,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of CarMax by 6.5% during the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after purchasing an additional 131 shares during the last quarter. Spire Wealth Management boosted its holdings in CarMax by 8.3% in the fourth quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock worth $146,000 after acquiring an additional 147 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of CarMax by 32.8% during the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after acquiring an additional 155 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CarMax by 0.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,223 shares of the company’s stock valued at $1,782,000 after acquiring an additional 157 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of CarMax by 3.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,010 shares of the company’s stock valued at $461,000 after acquiring an additional 174 shares in the last quarter.

CarMax Stock Performance

Shares of KMX stock opened at $75.79 on Wednesday. The business’s 50 day moving average is $75.06 and its two-hundred day moving average is $74.99. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a market capitalization of $11.83 billion, a P/E ratio of 29.44, a P/E/G ratio of 1.66 and a beta of 1.69. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last announced its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The business’s revenue was down 7.5% compared to the same quarter last year. Analysts expect that CarMax, Inc. will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wedbush upped their price target on shares of CarMax from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Robert W. Baird cut their target price on CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a research report on Friday, April 12th. Evercore ISI lifted their price target on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 16th. StockNews.com raised CarMax to a “sell” rating in a report on Friday, July 26th. Finally, Needham & Company LLC cut their price objective on CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.25.

Insider Buying and Selling at CarMax

In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The disclosure for this sale can be found here. Insiders sold 185,243 shares of company stock valued at $14,893,042 over the last quarter. 1.66% of the stock is currently owned by insiders.

About CarMax

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.