Swiss National Bank Has $11.67 Million Position in CarMax, Inc. $KMX

Swiss National Bank cut its stake in CarMax, Inc. (NYSE:KMX) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 280,600 shares of the company’s stock after selling 8,800 shares during the quarter. Swiss National Bank’s holdings in CarMax were worth $11,667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in CarMax during the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new stake in CarMax in the second quarter valued at approximately $30,000. Huntington National Bank increased its stake in CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. Advisory Services Network LLC acquired a new stake in CarMax in the third quarter worth $32,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in CarMax in the fourth quarter worth $33,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KMX. Mizuho boosted their price target on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Truist Financial raised their price objective on CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, June 18th. Bank of America boosted their target price on CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada increased their price target on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. raised their price target on CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, CarMax has a consensus rating of “Reduce” and a consensus price target of $49.33.

CarMax Stock Up 0.0%

Shares of KMX stock opened at $58.31 on Monday. The firm has a fifty day moving average of $49.69 and a 200-day moving average of $45.21. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $62.56. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 2.70 and a beta of 1.17.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. As a group, equities research analysts predict that CarMax, Inc. will post 2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter J. Bensen purchased 2,500 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sona Chawla acquired 2,000 shares of CarMax stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $53.39 per share, with a total value of $106,780.00. Following the completion of the transaction, the director directly owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 13,900 shares of company stock worth $735,574. Corporate insiders own 1.01% of the company’s stock.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.