Bank of America Corp DE Has $66.93 Million Position in CarMax, Inc (KMX)

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Bank of America Corp DE lifted its stake in shares of CarMax, Inc (NYSE:KMX) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 918,436 shares of the company’s stock after acquiring an additional 40,392 shares during the period. Bank of America Corp DE owned 0.52% of CarMax worth $66,926,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in KMX. Fuller & Thaler Asset Management Inc. raised its holdings in CarMax by 57.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after buying an additional 750 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in CarMax by 12.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,075 shares of the company’s stock valued at $438,000 after buying an additional 809 shares during the period. First Republic Investment Management Inc. raised its holdings in CarMax by 7.1% in the second quarter. First Republic Investment Management Inc. now owns 12,448 shares of the company’s stock valued at $907,000 after buying an additional 829 shares during the period. Meadow Creek Investment Management LLC raised its stake in shares of CarMax by 12.2% during the second quarter. Meadow Creek Investment Management LLC now owns 7,898 shares of the company’s stock valued at $575,000 after purchasing an additional 858 shares during the period. Finally, Atria Investments LLC raised its stake in shares of CarMax by 19.6% during the second quarter. Atria Investments LLC now owns 5,251 shares of the company’s stock valued at $383,000 after purchasing an additional 859 shares during the period.

KMX stock traded up $0.01 during mid-day trading on Friday, reaching $67.86. The company had a trading volume of 1,896,054 shares, compared to its average volume of 1,848,999. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.52 and a current ratio of 2.35. The stock has a market capitalization of $13.18 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.21 and a beta of 1.59. CarMax, Inc has a one year low of $57.05 and a one year high of $81.67.

CarMax (NYSE:KMX) last posted its earnings results 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. The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.65 billion. CarMax had a return on equity of 22.26% and a net margin of 4.12%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. As a group, analysts predict that CarMax, Inc will post 4.63 EPS for the current fiscal year.

In related news, SVP Darren C. Newberry sold 1,831 shares of CarMax stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $73.80, for a total transaction of $135,127.80. Following the sale, the senior vice president now directly owns 2,481 shares in the company, valued at $183,097.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William D. Nash sold 74,130 shares of CarMax stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $77.25, for a total transaction of $5,726,542.50. Following the sale, the chief executive officer now owns 150,631 shares in the company, valued at $11,636,244.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,603 shares of company stock worth $11,295,016. Company insiders own 1.97% of the company’s stock.

A number of research firms have recently issued reports on KMX. Morgan Stanley upgraded shares of CarMax from an “underweight” rating to an “overweight” rating in a research note on Tuesday, July 10th. Robert W. Baird raised their price target on shares of CarMax from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, June 25th. Buckingham Research downgraded shares of CarMax from a “buy” rating to a “neutral” rating and raised their price target for the stock from $75.00 to $84.00 in a research report on Monday, June 25th. They noted that the move was a valuation call. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Northcoast Research reaffirmed a “buy” rating and issued a $85.00 price objective on shares of CarMax in a report on Thursday, June 28th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $83.93.

CarMax Profile

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.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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