Essex Financial Services Inc. Buys New Position in CarMax, Inc. (NYSE:KMX)

Essex Financial Services Inc. bought a new stake in shares of CarMax, Inc. (NYSE:KMX) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,555 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds have also recently made changes to their positions in the company. Concord Wealth Partners bought a new position in CarMax during the fourth quarter valued at about $27,000. Capital Asset Advisory Services LLC bought a new position in CarMax during the fourth quarter valued at about $31,000. First Horizon Advisors Inc. bought a new position in CarMax during the fourth quarter valued at about $38,000. Berman Capital Advisors LLC boosted its stake in CarMax by 107.9% during the first quarter. Berman Capital Advisors LLC now owns 422 shares of the company’s stock valued at $55,000 after buying an additional 219 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in CarMax by 51.8% during the first quarter. Exchange Traded Concepts LLC now owns 431 shares of the company’s stock valued at $57,000 after buying an additional 147 shares in the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.

In other news, Director Thomas J. Folliard sold 185,120 shares of the firm’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $131.47, for a total transaction of $24,337,726.40. Following the completion of the sale, the director now directly owns 392,076 shares of the company’s stock, valued at approximately $51,546,231.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.76% of the stock is owned by company insiders.

KMX opened at $115.00 on Friday. CarMax, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $138.77. The business’s 50-day moving average price is $124.32. The company has a debt-to-equity ratio of 3.35, a current ratio of 2.42 and a quick ratio of 0.56. The stock has a market cap of $18.76 billion, a P/E ratio of 25.50, a PEG ratio of 1.29 and a beta of 1.65.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, March 31st. The company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.01. CarMax had a return on equity of 19.42% and a net margin of 3.94%. The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the business earned $1.30 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that CarMax, Inc. will post 5.84 earnings per share for the current year.

Several brokerages have recently commented on KMX. Wedbush reaffirmed a “neutral” rating and set a $130.00 target price (down from $155.00) on shares of CarMax in a report on Tuesday, May 25th. Stephens upped their target price on CarMax from $130.00 to $154.00 and gave the company an “overweight” rating in a report on Monday, April 5th. Robert W. Baird upped their target price on CarMax from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, April 5th. Seaport Global Securities downgraded CarMax from a “buy” rating to a “neutral” rating in a report on Wednesday, March 31st. Finally, Oppenheimer upped their target price on CarMax from $130.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, April 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $123.50.

CarMax Company 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; 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 whole auctions.

Featured Story: S&P 500 Index

Want to see what other hedge funds are holding KMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarMax, Inc. (NYSE:KMX).

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

Receive News & Ratings for CarMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax and related companies with MarketBeat.com's FREE daily email newsletter.