Thoroughbred Financial Services LLC Makes New $227,000 Investment in CarMax, Inc. (NYSE:KMX)

Thoroughbred Financial Services LLC purchased a new position in shares of CarMax, Inc. (NYSE:KMX) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,102 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMX. Norges Bank purchased a new stake in shares of CarMax during the 4th quarter worth about $288,278,000. Morningstar Investment Services LLC raised 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 worth $211,516,000 after purchasing an additional 1,326,840 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of CarMax by 1,327.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after purchasing an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of CarMax by 3,094.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after purchasing an additional 577,685 shares in the last quarter. Finally, Verition Fund Management LLC raised 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 worth $32,781,000 after purchasing an additional 419,826 shares in the last quarter.

Insider Activity

In other news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William D. Nash sold 120,000 shares of the company’s 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 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. Over the last ninety days, insiders have sold 185,243 shares of company stock worth $14,893,042. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KMX shares. Mizuho cut their price objective on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Oppenheimer reissued an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research note on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and issued a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Truist Financial raised their price objective on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Finally, StockNews.com raised CarMax to a “sell” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $76.25.

CarMax Stock Up 0.4 %

Shares of KMX stock opened at $79.39 on Wednesday. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The firm has a market cap of $12.39 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.69. The stock has a 50 day moving average of $80.26 and a 200-day moving average of $76.53. 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 (NYSE:KMX) last released its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. CarMax’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. On average, equities analysts predict that CarMax, Inc. will post 2.99 EPS for the current year.

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.