CarMax, Inc (KMX) Position Increased by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its holdings in shares of CarMax, Inc (NYSE:KMX) by 13.7% during the third quarter, HoldingsChannel.com reports. The fund owned 10,058 shares of the company’s stock after buying an additional 1,214 shares during the quarter. IFM Investors Pty Ltd’s holdings in CarMax were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of KMX. Millennium Management LLC raised its stake in shares of CarMax by 4,279.2% in the second quarter. Millennium Management LLC now owns 488,592 shares of the company’s stock valued at $35,604,000 after buying an additional 477,435 shares during the period. Douglass Winthrop Advisors LLC bought a new stake in shares of CarMax in the second quarter valued at $29,704,000. Principal Financial Group Inc. raised its stake in shares of CarMax by 4.3% in the first quarter. Principal Financial Group Inc. now owns 9,658,783 shares of the company’s stock valued at $598,264,000 after buying an additional 402,543 shares during the period. Chilton Investment Co. LLC raised its stake in shares of CarMax by 281.6% in the second quarter. Chilton Investment Co. LLC now owns 448,724 shares of the company’s stock valued at $32,699,000 after buying an additional 331,148 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of CarMax by 625.4% in the first quarter. Royal Bank of Canada now owns 348,926 shares of the company’s stock valued at $21,611,000 after buying an additional 300,823 shares during the period.

In related news, SVP Mohammad Shamim sold 34,142 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $74.16, for a total transaction of $2,531,970.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Darren C. Newberry sold 1,831 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $73.80, for a total value of $135,127.80. Following the transaction, the senior vice president now owns 2,481 shares of the company’s stock, valued at $183,097.80. The disclosure for this sale can be found here. 1.97% of the stock is owned by insiders.



NYSE:KMX opened at $70.66 on Tuesday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.52 and a current ratio of 2.35. CarMax, Inc has a 52-week low of $57.05 and a 52-week high of $81.67. The firm has a market cap of $12.23 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.14 and a beta of 1.59.

CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, September 26th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. CarMax had a return on equity of 22.26% and a net margin of 4.12%. The company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts forecast that CarMax, Inc will post 4.65 earnings per share for the current year.

Several analysts have issued reports on the company. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Tuesday, July 10th. Wolfe Research started coverage on CarMax in a research note on Tuesday, October 2nd. They set a “peer perform” rating on the stock. Wedbush set a $87.00 price objective on CarMax and gave the company a “buy” rating in a research note on Thursday, September 27th. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Robert W. Baird upgraded CarMax from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 27th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $83.93.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

See Also: Asset Allocation

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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