Legal & General Group Plc Takes $18.75 Million Position in CarMax, Inc. $KMX

Legal & General Group Plc purchased a new stake in CarMax, Inc. (NYSE:KMX) during the second quarter, according to its most recent filing with the SEC. The firm purchased 354,495 shares of the company’s stock, valued at approximately $18,749,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KMX. The Manufacturers Life Insurance Company acquired a new position in CarMax during the second quarter valued at approximately $128,001,000. Broad Run Investment Management LLC acquired a new stake in CarMax in the second quarter worth $14,980,000. Aberdeen Wealth Management LLC bought a new position in shares of CarMax during the second quarter worth $39,000. Sanctuary Advisors LLC acquired a new position in shares of CarMax in the 2nd quarter valued at $433,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of CarMax in the 2nd quarter valued at $1,316,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Barclays raised CarMax from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $37.00 to $61.00 in a research note on Tuesday, July 21st. Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Weiss Ratings upgraded CarMax from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Finally, Robert W. Baird boosted their price objective on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.00.

CarMax Stock Down 1.1%

Shares of CarMax stock opened at $61.96 on Friday. The business’s 50 day simple moving average is $56.79 and its 200 day simple moving average is $47.58. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $65.28. The firm has a market cap of $8.79 billion, a PE ratio of 40.50, a P/E/G ratio of 2.84 and a beta of 1.15. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.

CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the firm posted $1.38 EPS. The business’s revenue was up 6.2% on a year-over-year basis. On average, analysts predict that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Activity

In other CarMax news, CEO Keith Barr acquired 9,400 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $53.01 per share, with a total value of $498,294.00. Following the completion of the transaction, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. This trade represents a 39.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sona Chawla bought 2,000 shares of CarMax stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average price of $53.39 per share, with a total value of $106,780.00. Following the acquisition, the director directly owned 21,702 shares of the company’s stock, valued at $1,158,669.78. The trade was a 10.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 13,900 shares of company stock worth $735,574 over the last ninety days. Insiders own 1.01% of the company’s stock.

CarMax Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.