Sompo Asset Management Co. Ltd. Boosts Stock Position in CarMax, Inc. (NYSE:KMX)

Sompo Asset Management Co. Ltd. raised its stake in shares of CarMax, Inc. (NYSE:KMX) by 20.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,432 shares of the company’s stock after buying an additional 1,762 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in CarMax were worth $765,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KMX. Morningstar Investment Services LLC grew its position in 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 purchasing an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC grew its holdings 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 valued at $89,070,000 after buying an additional 951,558 shares during the last quarter. Epoch Investment Partners Inc. increased 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 valued at $51,949,000 after acquiring an additional 577,685 shares in the last quarter. Verition Fund Management LLC lifted its position in CarMax by 5,711.9% in the 4th 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. Finally, Natixis Advisors LLC boosted its stake in CarMax by 110.0% during the 2nd quarter. Natixis Advisors LLC now owns 563,608 shares of the company’s stock valued at $41,335,000 after purchasing an additional 295,271 shares during the last quarter.

CarMax Price Performance

Shares of CarMax stock opened at $76.10 on Friday. The stock 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. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. The stock’s fifty day moving average is $80.36 and its 200 day moving average is $76.54. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 earnings per share. Sell-side analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current year.

Insider Buying and Selling

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares of the company’s stock, valued at $965,567.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jon G. Daniels sold 1,231 shares of the company’s stock in a transaction 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 owns 995 shares of the company’s stock, valued at approximately $72,097.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,243 shares of company stock valued at $14,893,042. 1.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KMX. Wedbush restated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday. Truist Financial increased their price objective on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, June 24th. StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada boosted their target price on shares of CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Three equities 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 currently has a consensus rating of “Hold” and an average target price 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.