CarMax, Inc. (NYSE:KMX) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden boosted its stake in CarMax, Inc. (NYSE:KMX) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,200 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. Forsta AP Fonden’s holdings in CarMax were worth $2,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KMX. Norges Bank purchased a new position in CarMax in the 4th quarter worth approximately $288,278,000. Morningstar Investment Services LLC boosted its holdings in CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after acquiring an additional 1,326,840 shares during the period. DAVENPORT & Co LLC boosted its holdings in CarMax by 1,327.3% in the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after acquiring an additional 951,558 shares during the period. American Century Companies Inc. boosted its stake in shares of CarMax by 674.3% during the 3rd quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock valued at $57,059,000 after buying an additional 702,526 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in shares of CarMax by 5,711.9% during the 4th quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock valued at $32,781,000 after buying an additional 419,826 shares during the last quarter.

Insider Activity

In related news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Nash sold 120,000 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,587 shares of company stock valued at $10,711,301. Company insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

KMX has been the subject of several research analyst reports. StockNews.com upgraded CarMax to a “sell” rating in a research note on Tuesday, July 9th. Morgan Stanley reiterated an “overweight” rating and set a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Truist Financial increased their target price on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Robert W. Baird dropped their price target on CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a research report on Friday, April 12th. Finally, Needham & Company LLC dropped their price target on CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $75.50.

CarMax Stock Performance

NYSE KMX traded down $0.08 during trading hours on Monday, hitting $80.85. The company had a trading volume of 56,178 shares, compared to its average volume of 2,021,219. The firm has a market cap of $12.62 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 1.61 and a beta of 1.69. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The business has a fifty day simple moving average of $71.79 and a 200-day simple moving average of $73.94.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. Equities analysts predict that CarMax, Inc. will post 3.02 EPS for the current year.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.