Van ECK Associates Corp Acquires 15,426 Shares of CarMax, Inc. (NYSE:KMX)

Van ECK Associates Corp lifted its holdings in CarMax, Inc. (NYSE:KMX) by 38.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,800 shares of the company’s stock after acquiring an additional 15,426 shares during the period. Van ECK Associates Corp’s holdings in CarMax were worth $4,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in CarMax by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after purchasing an additional 222,132 shares during the period. Norges Bank bought a new position in shares of CarMax during the 4th quarter valued at approximately $288,278,000. Morningstar Investment Services LLC increased its position in shares of 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. Cooke & Bieler LP raised its holdings in CarMax by 3.1% during the 4th quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock valued at $179,928,000 after buying an additional 69,409 shares during the period. Finally, First Pacific Advisors LP lifted its position in CarMax by 1.2% in the fourth quarter. First Pacific Advisors LP now owns 2,331,545 shares of the company’s stock worth $178,923,000 after buying an additional 28,095 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on KMX shares. Truist Financial boosted 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. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of CarMax in a report on Tuesday, June 18th. Evercore ISI decreased their price objective on shares of CarMax from $73.00 to $68.00 and set an “in-line” rating for the company in a research note on Thursday, June 20th. Mizuho cut their target price on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Finally, Argus upgraded CarMax to a “hold” rating in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, CarMax currently has an average rating of “Hold” and an average price target of $75.50.

Insider Activity

In related news, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction that occurred 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 $72,097.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the sale, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The disclosure for this sale can be found here. Insiders own 1.66% of the company’s stock.

CarMax Stock Down 1.9 %

NYSE KMX traded down $1.35 on Friday, reaching $71.53. 685,585 shares of the stock traded hands, compared to its average volume of 2,007,503. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. 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 company has a fifty day moving average price of $70.92 and a 200-day moving average price of $74.01. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.45 and a beta of 1.69.

CarMax (NYSE:KMX) last released its quarterly earnings data 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 company had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, research analysts forecast that CarMax, Inc. will post 3.02 EPS for the current fiscal year.

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.