The Manufacturers Life Insurance Company Grows Stock Position in CarMax, Inc. $KMX

The Manufacturers Life Insurance Company boosted its position in CarMax, Inc. (NYSE:KMX) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,420,139 shares of the company’s stock after buying an additional 21,882 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.71% of CarMax worth $128,001,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after purchasing an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after buying an additional 173 shares in the last quarter. Huntington National Bank boosted its stake in shares of 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 buying an additional 265 shares in the last quarter. Ossiam grew its holdings in CarMax by 19.5% during the second quarter. Ossiam now owns 1,713 shares of the company’s stock worth $115,000 after acquiring an additional 280 shares during the period. Finally, Swiss Life Asset Management Ltd raised its position in CarMax by 4.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 7,028 shares of the company’s stock worth $272,000 after acquiring an additional 298 shares in the last quarter.

CarMax Trading Up 1.6%

Shares of CarMax stock opened at $61.47 on Friday. The business’s fifty day moving average is $58.70 and its two-hundred day moving average is $48.82. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $65.28. The firm has a market cap of $8.72 billion, a PE ratio of 40.18, a P/E/G ratio of 2.77 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 posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. Analysts anticipate that CarMax, Inc. will post 2.73 earnings per share for the current year.

Insider Buying and Selling at CarMax

In related news, Director Sona Chawla purchased 2,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were 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 in the company, valued at $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Keith Barr purchased 9,400 shares of the stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $53.01 per share, with a total value of $498,294.00. Following the transaction, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 13,900 shares of company stock worth $735,574 in the last quarter. 1.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Truist Financial upped their target price on shares of CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, June 18th. Royal Bank Of Canada lifted their price target on shares of CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Benchmark reissued a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Finally, Bank of America boosted their price target on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.00.

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.