Prudential PLC Makes New $444,000 Investment in CarMax, Inc. (NYSE:KMX)

Prudential PLC acquired a new stake in CarMax, Inc. (NYSE:KMX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,052 shares of the company’s stock, valued at approximately $444,000.

Several other large investors also recently modified their holdings of KMX. Norges Bank purchased a new position in CarMax in the fourth quarter valued at about $288,278,000. Morningstar Investment Services LLC boosted its stake in shares of CarMax by 95.4% during the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after buying an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of CarMax by 1,327.3% during the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after buying an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. grew its position in shares of CarMax by 3,094.0% during the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after buying an additional 577,685 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in CarMax by 5,711.9% in the fourth quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock valued at $32,781,000 after acquiring an additional 419,826 shares in the last quarter.

CarMax Stock Performance

Shares of NYSE KMX opened at $78.78 on Friday. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a market cap of $12.30 billion, a PE ratio of 30.77, a P/E/G ratio of 1.53 and a beta of 1.69. The stock has a 50 day simple moving average of $80.14 and a 200-day simple moving average of $76.53. 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 (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $7.11 billion during 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 firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. On average, equities research analysts forecast that CarMax, Inc. will post 2.99 EPS for the current year.

Insider Activity at CarMax

In other news, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the transaction, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the sale, the senior vice president now owns 995 shares of the company’s stock, valued at approximately $72,097.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The disclosure for this sale can be found here. Insiders sold 185,243 shares of company stock worth $14,893,042 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $105.00 price objective on shares of CarMax in a report on Monday, June 24th. Royal Bank of Canada boosted their price objective on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Argus upgraded CarMax to a “hold” rating in a research note on Tuesday, June 25th. Mizuho decreased their target price on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, Evercore ISI upped their price target on CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, CarMax presently has an average rating of “Hold” and a consensus price target of $76.25.

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.