Wedge Capital Management L L P NC Purchases 43,850 Shares of CarMax, Inc. (NYSE:KMX)

Wedge Capital Management L L P NC increased its position in shares of CarMax, Inc. (NYSE:KMX) by 36.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 165,763 shares of the company’s stock after acquiring an additional 43,850 shares during the quarter. Wedge Capital Management L L P NC’s holdings in CarMax were worth $12,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted 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 worth $1,387,222,000 after purchasing an additional 222,132 shares during the period. Norges Bank acquired a new position in CarMax during the fourth quarter worth about $288,278,000. Morningstar Investment Services LLC raised its stake in CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after acquiring an additional 1,326,840 shares in the last quarter. Cooke & Bieler LP raised its stake in CarMax by 3.1% during the fourth quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock worth $179,928,000 after acquiring an additional 69,409 shares in the last quarter. Finally, First Pacific Advisors LP raised its stake in CarMax by 0.3% during the first quarter. First Pacific Advisors LP now owns 2,339,026 shares of the company’s stock worth $203,753,000 after acquiring an additional 7,481 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on KMX. Oppenheimer reissued an “outperform” rating and set a $105.00 target price on shares of CarMax in a research note on Monday, June 24th. Needham & Company LLC lowered their target price on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Evercore ISI boosted their target price on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 16th. StockNews.com raised CarMax to a “sell” rating in a research note on Friday, July 26th. Finally, Wedbush upped their price objective on CarMax from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.25.

Insider Buying and Selling at CarMax

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the 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 completion of the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was 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 directly owns 11,738 shares in the company, valued at approximately $965,567.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the transaction, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,243 shares of company stock valued at $14,893,042. 1.66% of the stock is currently owned by company insiders.

CarMax Trading Up 1.3 %

NYSE:KMX traded up $1.03 on Friday, reaching $80.87. 123,762 shares of the stock traded hands, compared to its average volume of 1,956,883. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 1.66 and a beta of 1.69. The company’s 50 day moving average is $75.90 and its 200-day moving average is $75.25. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22.

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

CarMax 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.