Fruth Investment Management acquired a new position in shares of CarMax, Inc. (NYSE:KMX – Get Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,000 shares of the company's stock, valued at approximately $203,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. increased its position in CarMax by 3.8% during the second quarter. Investment Research & Advisory Group Inc. now owns 15,363 shares of the company's stock worth $1,390,000 after purchasing an additional 560 shares during the last quarter. Hanson & Doremus Investment Management increased its position in shares of CarMax by 42.3% during the second quarter. Hanson & Doremus Investment Management now owns 831 shares of the company's stock valued at $75,000 after acquiring an additional 247 shares during the last quarter. Intrinsic Value Partners LLC increased its position in shares of CarMax by 54.6% during the second quarter. Intrinsic Value Partners LLC now owns 12,607 shares of the company's stock valued at $1,141,000 after acquiring an additional 4,451 shares during the last quarter. Triad Investment Management increased its position in shares of CarMax by 126.3% during the second quarter. Triad Investment Management now owns 23,692 shares of the company's stock valued at $2,144,000 after acquiring an additional 13,224 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of CarMax by 1.8% during the second quarter. Global Retirement Partners LLC now owns 8,012 shares of the company's stock valued at $725,000 after acquiring an additional 145 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.
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Insider Transactions at CarMax
In other news, EVP Mohammad Shamim sold 3,456 shares of the business's stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $93.91, for a total transaction of $324,552.96. Following the completion of the sale, the executive vice president now owns 8,769 shares in the company, valued at approximately $823,496.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Mohammad Shamim sold 3,456 shares of the business's stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $93.91, for a total transaction of $324,552.96. Following the completion of the sale, the executive vice president now owns 8,769 shares in the company, valued at approximately $823,496.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Diane L. Cafritz sold 15,555 shares of the business's stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $94.75, for a total transaction of $1,473,836.25. Following the sale, the executive vice president now owns 4,988 shares of the company's stock, valued at approximately $472,613. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,103 shares of company stock worth $3,445,847. 1.65% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on KMX shares. Bank of America cut shares of CarMax from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $146.00 to $100.00 in a research report on Friday, September 9th. JPMorgan Chase & Co. dropped their price target on shares of CarMax from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Friday, September 9th. Morgan Stanley dropped their price target on shares of CarMax from $140.00 to $124.00 and set an "overweight" rating for the company in a research report on Thursday, July 14th. Royal Bank of Canada lifted their price target on shares of CarMax from $104.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, June 27th. Finally, Wedbush lifted their price objective on shares of CarMax from $90.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $118.56.
CarMax Stock Up 0.4 %
CarMax stock traded up $0.34 during trading on Tuesday, reaching $80.31. The stock had a trading volume of 24,973 shares, compared to its average volume of 1,305,974. CarMax, Inc. has a 52-week low of $76.00 and a 52-week high of $155.98. The business has a 50 day moving average price of $92.48 and a 200 day moving average price of $94.05. The company has a quick ratio of 0.63, a current ratio of 2.72 and a debt-to-equity ratio of 3.29. The stock has a market cap of $12.78 billion, a PE ratio of 13.96, a P/E/G ratio of 2.22 and a beta of 1.40.
CarMax (NYSE:KMX – Get Rating) last issued its quarterly earnings results on Friday, June 24th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.05. CarMax had a net margin of 2.88% and a return on equity of 18.40%. The company had revenue of $9.31 billion during the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter in the previous year, the firm earned $2.63 earnings per share. On average, analysts predict that CarMax, Inc. will post 5.67 EPS for the current year.
CarMax Profile
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CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through 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, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.
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