CarMax, Inc. $KMX Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its position in CarMax, Inc. (NYSE:KMX) by 50.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,532 shares of the company’s stock after selling 11,777 shares during the period. TD Waterhouse Canada Inc.’s holdings in CarMax were worth $597,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SRS Investment Management LLC boosted its holdings in shares of CarMax by 1,717.5% during the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after purchasing an additional 5,327,603 shares during the last quarter. AQR Capital Management LLC increased its stake in CarMax by 151.8% in the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the last quarter. Jupiter Topco LLC acquired a new position in CarMax in the second quarter valued at $245,676,000. Primecap Management Co. CA purchased a new position in CarMax during the second quarter worth about $230,548,000. Finally, Norges Bank purchased a new position in CarMax during the fourth quarter worth about $159,232,000.

Insider Buying and Selling at CarMax

In other CarMax news, Director Peter Bensen purchased 2,500 shares of CarMax stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $52.20 per share, with a total value of $130,500.00. Following the completion of the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith Barr acquired 9,400 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $53.01 per share, with a total value of $498,294.00. Following the completion of the purchase, the chief executive officer owned 33,375 shares of the company’s stock, valued at $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 13,900 shares of company stock valued at $735,574 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Robert W. Baird raised their price target on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Benchmark reiterated a “hold” rating on shares of CarMax in a report on Thursday, June 18th. Wall Street Zen upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. UBS Group set a $60.00 price target on shares of CarMax in a research report on Wednesday, July 29th. Finally, Truist Financial increased their price target on shares of CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, CarMax currently has an average rating of “Hold” and a consensus target price of $51.00.

CarMax Stock Performance

CarMax stock opened at $60.55 on Friday. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth ratio of 2.76 and a beta of 1.17. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $65.28. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The stock’s 50-day moving average is $58.49 and its 200-day moving average is $48.73.

CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. Equities analysts anticipate that CarMax, Inc. will post 2.73 earnings per share for the current year.

CarMax Profile

CarMax, Inc is a specialty retailer of used vehicles and one of the largest automotive retailers in the United States. The company sells a broad selection of used cars, trucks and sport utility vehicles through its retail locations and online platform. CarMax also purchases vehicles from consumers and other sources, providing customers with a streamlined alternative to traditional private-party sales.

In addition to retail sales, CarMax operates wholesale vehicle auctions for vehicles that do not meet its retail standards or business requirements.