Welch & Forbes LLC Purchases 5,719 Shares of CarMax, Inc (NYSE:KMX)

Welch & Forbes LLC boosted its position in CarMax, Inc (NYSE:KMX) by 0.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,039,982 shares of the company’s stock after purchasing an additional 5,719 shares during the quarter. CarMax makes up approximately 2.2% of Welch & Forbes LLC’s investment portfolio, making the stock its 12th largest holding. Welch & Forbes LLC owned about 0.63% of CarMax worth $91,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. AdvisorNet Financial Inc lifted its holdings in CarMax by 86.9% in the second quarter. AdvisorNet Financial Inc now owns 398 shares of the company’s stock valued at $35,000 after acquiring an additional 185 shares during the period. Hanson & Doremus Investment Management acquired a new position in CarMax in the 2nd quarter valued at $51,000. FNY Investment Advisers LLC raised its stake in CarMax by 6,633.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 588 shares of the company’s stock valued at $51,000 after purchasing an additional 597 shares during the last quarter. HM Payson & Co. acquired a new position in CarMax in the 2nd quarter valued at $52,000. Finally, Carroll Financial Associates Inc. raised its stake in CarMax by 181.1% in the 2nd quarter. Carroll Financial Associates Inc. now owns 759 shares of the company’s stock valued at $65,000 after purchasing an additional 489 shares during the last quarter.

NYSE:KMX traded up $3.26 during trading hours on Friday, hitting $90.67. The company had a trading volume of 56,846 shares, compared to its average volume of 1,563,929. The company has a current ratio of 2.42, a quick ratio of 0.56 and a debt-to-equity ratio of 4.11. The company has a 50-day moving average of $85.07 and a 200 day moving average of $81.58. The company has a market cap of $13.99 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.28 and a beta of 1.17. CarMax, Inc has a 1 year low of $55.24 and a 1 year high of $92.01.

CarMax (NYSE:KMX) last issued its earnings results on Tuesday, September 24th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.07. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.06 billion. CarMax had a return on equity of 25.50% and a net margin of 4.60%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. On average, analysts forecast that CarMax, Inc will post 5.29 earnings per share for the current year.

Several research firms recently commented on KMX. Buckingham Research increased their price objective on CarMax from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wedbush reissued a “neutral” rating on shares of CarMax in a research note on Thursday, October 3rd. Guggenheim increased their price objective on CarMax from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Royal Bank of Canada increased their price objective on CarMax from $86.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, June 19th. Finally, Credit Suisse Group set a $90.00 price objective on CarMax and gave the company an “outperform” rating in a research note on Monday, June 17th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $95.42.

In other CarMax news, EVP Eric M. Margolin sold 14,699 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $89.06, for a total value of $1,309,092.94. Following the sale, the executive vice president now owns 31,166 shares of the company’s stock, valued at approximately $2,775,643.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mohammad Shamim sold 13,894 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $90.39, for a total value of $1,255,878.66. Following the completion of the sale, the senior vice president now directly owns 16,718 shares in the company, valued at approximately $1,511,140.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,893 shares of company stock valued at $3,297,447. Company insiders own 2.09% of the company’s stock.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

Read More: Return on Investment (ROI)

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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