Oppenheimer Asset Management Inc. Acquires 547 Shares of CarMax, Inc. (NYSE:KMX)

Oppenheimer Asset Management Inc. boosted its holdings in CarMax, Inc. (NYSE:KMX) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,938 shares of the company’s stock after purchasing an additional 547 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CarMax were worth $509,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the sale, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,690,899.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the firm’s 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 transaction, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,243 shares of company stock worth $14,893,042. Insiders own 1.66% of the company’s stock.

CarMax Trading Down 1.7 %

CarMax stock opened at $76.10 on Friday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The stock has a market cap of $11.88 billion, a P/E ratio of 29.73, a PEG ratio of 1.53 and a beta of 1.69. The firm’s fifty day moving average price is $80.36 and its 200-day moving average price is $76.54.

CarMax (NYSE:KMX) last announced its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion for 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 company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. Equities research analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on KMX shares. Evercore ISI raised their target price on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 16th. Needham & Company LLC dropped their price objective on shares of CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Royal Bank of Canada lifted their target price on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Oppenheimer restated an “outperform” rating and set a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday. Three investment 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 MarketBeat, CarMax presently has a consensus rating of “Hold” and a consensus price target of $77.08.

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.