Bank of Montreal Can Purchases 890 Shares of CarMax, Inc. (NYSE:KMX)

Bank of Montreal Can increased its position in CarMax, Inc. (NYSE:KMX) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 314,397 shares of the company’s stock after acquiring an additional 890 shares during the period. Bank of Montreal Can’s holdings in CarMax were worth $23,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Community Trust NA bought a new stake in shares of CarMax in the 2nd quarter worth $29,000. Blue Trust Inc. increased its holdings in CarMax by 134.1% in the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares in the last quarter. Studio Investment Management LLC raised its position in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 shares during the last quarter. Headlands Technologies LLC bought a new position in CarMax during the 1st quarter valued at about $55,000. Finally, First Financial Corp IN lifted its stake in CarMax by 127.2% during the 1st quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock valued at $91,000 after acquiring an additional 585 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KMX. StockNews.com raised shares of CarMax to a “sell” rating in a report on Friday, July 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a report on Monday, June 24th. Argus raised CarMax to a “hold” rating in a report on Tuesday, June 25th. Evercore ISI boosted their price target on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research note on Friday. Finally, Wedbush reaffirmed an “outperform” rating and set a $95.00 price target on shares of CarMax in a research report on Tuesday, September 17th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.92.

CarMax Price Performance

NYSE KMX opened at $77.29 on Friday. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.56 and a beta of 1.69. The company’s 50 day moving average is $79.71 and its two-hundred day moving average is $76.37.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. As a group, research analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current year.

Insider Activity

In related news, CEO William D. Nash sold 120,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP John M. Stuckey III sold 19,673 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $82.01, for a total transaction of $1,613,382.73. Following the completion of the transaction, the senior vice president now owns 969 shares in the company, valued at $79,467.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The disclosure for this sale can be found here. Insiders have sold 184,012 shares of company stock worth $14,803,843 over the last ninety days. Corporate insiders own 1.66% of the company’s stock.

About CarMax

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.