Bridges Investment Management Inc. Acquires Shares of 11,590 CarMax, Inc. (NYSE:KMX)

Bridges Investment Management Inc. acquired a new position in CarMax, Inc. (NYSE:KMX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,590 shares of the company’s stock, valued at approximately $850,000.

Other large investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. increased its stake in CarMax by 5.7% during the fourth quarter. Gilbert & Cook Inc. now owns 8,011 shares of the company’s stock worth $615,000 after acquiring an additional 431 shares during the last quarter. D.A. Davidson & CO. raised its holdings in CarMax by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 11,850 shares of the company’s stock valued at $909,000 after buying an additional 400 shares during the period. Franklin Resources Inc. lifted its position in CarMax by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 16,706 shares of the company’s stock worth $1,282,000 after buying an additional 212 shares during the last quarter. ProVise Management Group LLC boosted its stake in CarMax by 2.3% during the fourth quarter. ProVise Management Group LLC now owns 60,031 shares of the company’s stock worth $4,607,000 after buying an additional 1,330 shares during the period. Finally, Intech Investment Management LLC increased its position in CarMax by 18.9% during the fourth quarter. Intech Investment Management LLC now owns 42,950 shares of the company’s stock valued at $3,296,000 after acquiring an additional 6,816 shares during the last quarter.

Insider Activity at CarMax

In other CarMax news, CEO William D. Nash sold 120,000 shares of the stock in a transaction 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 owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction dated 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 owns 995 shares in the company, valued at approximately $72,097.70. The disclosure for this sale can be found here. Insiders have sold a total of 185,243 shares of company stock valued at $14,893,042 over the last ninety days. 1.66% of the stock is owned by company insiders.

CarMax Stock Performance

Shares of CarMax stock opened at $76.10 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’s fifty day moving average price is $80.36 and its 200-day moving average price is $76.54. The firm has a market cap of $11.88 billion, a P/E ratio of 29.73, a P/E/G ratio of 1.53 and a beta of 1.69.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The company’s revenue was down 7.5% compared to the same quarter last year. On average, equities research analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Royal Bank of Canada boosted their target price on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Argus upgraded CarMax to a “hold” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. upped their price objective on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, StockNews.com upgraded CarMax to a “sell” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, CarMax presently has a consensus rating of “Hold” and a consensus price target of $77.08.

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.