Pacer Advisors Inc. Buys Shares of 1,169,654 CarMax, Inc. $KMX

Pacer Advisors Inc. purchased a new position in CarMax, Inc. (NYSE:KMX) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,169,654 shares of the company’s stock, valued at approximately $48,634,000.

A number of other hedge funds also recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in shares of CarMax by 151.8% during the 4th 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 in the last quarter. SRS Investment Management LLC increased its stake in CarMax by 1,717.5% during the 4th 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 in the last quarter. Janus Henderson Group PLC raised its holdings in CarMax by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock worth $190,471,000 after buying an additional 49,987 shares during the period. Dimensional Fund Advisors LP raised its holdings in CarMax by 7.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company’s stock worth $177,767,000 after buying an additional 289,768 shares during the period. Finally, Norges Bank bought a new position in CarMax in the fourth quarter valued at approximately $159,232,000.

Analyst Ratings Changes

KMX has been the subject of several research reports. Bank of America increased their price objective on shares of CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 17th. Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Argus raised shares of CarMax to a “hold” rating in a research note on Thursday, April 16th. Robert W. Baird increased their target price on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Finally, Royal Bank Of Canada lifted their price target on CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $51.00.

CarMax Stock Performance

Shares of KMX stock opened at $58.42 on Tuesday. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $62.56. The company’s fifty day simple moving average is $52.10 and its 200-day simple moving average is $45.82. The firm has a market cap of $8.29 billion, a PE ratio of 38.18, a P/E/G ratio of 2.62 and a beta of 1.17. 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 (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts expect that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Insider Activity

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

CarMax Company Profile

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.