Premier Path Wealth Partners LLC Buys 1,377 Shares of CarMax, Inc. (NYSE:KMX)

Premier Path Wealth Partners LLC lifted its stake in CarMax, Inc. (NYSE:KMX) by 9.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,291 shares of the company’s stock after buying an additional 1,377 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in CarMax were worth $1,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of CarMax during the fourth quarter valued at about $288,278,000. Morningstar Investment Services LLC grew its holdings in 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 buying an additional 1,326,840 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in CarMax by 1,327.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock valued at $89,070,000 after buying an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in CarMax by 3,094.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after acquiring an additional 577,685 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of CarMax by 5,711.9% during the 4th quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock worth $32,781,000 after acquiring an additional 419,826 shares in the last quarter.

CarMax Trading Up 4.4 %

CarMax stock traded up $3.65 during mid-day trading on Friday, hitting $85.78. The company’s stock had a trading volume of 1,634,879 shares, compared to its average volume of 1,935,110. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22. The stock has a market cap of $13.39 billion, a PE ratio of 33.13, a P/E/G ratio of 1.66 and a beta of 1.69. The company has a 50 day moving average of $77.05 and a 200-day moving average of $75.54. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50.

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

Insiders Place Their Bets

In other news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at approximately $72,097.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of CarMax stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the sale, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,690,899.60. The disclosure for this sale can be found here. Insiders have sold 185,243 shares of company stock worth $14,893,042 in the last three months. Corporate insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KMX. Royal Bank of Canada boosted their price target on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. StockNews.com upgraded shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Argus upgraded CarMax to a “hold” rating in a research report on Tuesday, June 25th. Morgan Stanley restated an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Finally, Truist Financial raised their price objective on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.25.

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.