CarMax, Inc. (NYSE:KMX) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in CarMax, Inc. (NYSE:KMX) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,304 shares of the company’s stock after acquiring an additional 298 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CarMax were worth $1,339,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its stake in shares of CarMax by 29.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after acquiring an additional 37,660 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of CarMax by 10.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock valued at $16,238,000 after acquiring an additional 17,557 shares in the last quarter. Van ECK Associates Corp increased its holdings in CarMax by 38.2% in the first quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock valued at $4,861,000 after buying an additional 15,426 shares during the last quarter. Swedbank AB purchased a new position in CarMax in the first quarter valued at $1,406,000. Finally, SG Americas Securities LLC increased its holdings in CarMax by 7.9% in the first quarter. SG Americas Securities LLC now owns 22,939 shares of the company’s stock valued at $1,998,000 after buying an additional 1,688 shares during the last quarter.

CarMax Stock Performance

NYSE KMX opened at $71.46 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 52-week low of $59.66 and a 52-week high of $88.22. The business’s 50-day moving average price is $77.98 and its 200 day moving average price is $75.13. The firm has a market cap of $11.15 billion, a P/E ratio of 27.91, a P/E/G ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. On average, equities research analysts expect that CarMax, Inc. will post 2.97 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of CarMax in a report on Wednesday, October 16th. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of CarMax in a report on Wednesday, October 16th. BNP Paribas raised CarMax to a “strong sell” rating in a report on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 target price on shares of CarMax in a report on Wednesday, October 16th. Finally, Truist Financial increased their target price on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, CarMax currently has an average rating of “Hold” and a consensus target price of $79.73.

Insider Activity at CarMax

In related news, 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 completion of the sale, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.66% of the stock is owned by insiders.

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.