CarMax, Inc. $KMX Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of CarMax, Inc. (NYSE:KMX) by 7.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 468,737 shares of the company’s stock after acquiring an additional 33,851 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CarMax were worth $24,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. SRS Investment Management LLC increased its holdings in CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock valued at $217,845,000 after acquiring an additional 5,327,603 shares in the last quarter. AQR Capital Management LLC grew its position in shares of CarMax by 151.8% in the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of CarMax in the second quarter valued at approximately $245,676,000. Primecap Management Co. CA purchased a new position in shares of CarMax during the 2nd quarter worth approximately $230,548,000. Finally, Norges Bank purchased a new position in shares of CarMax during the 4th quarter worth approximately $159,232,000.

Analysts Set New Price Targets

A number of brokerages have commented on KMX. UBS Group set a $60.00 target price on CarMax in a report on Wednesday, July 29th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings raised CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Zacks Research upgraded CarMax from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Barclays raised shares of 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.00.

Insider Buying and Selling

In other news, Director Peter Bensen bought 2,500 shares of CarMax stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director owned 24,796 shares of the company’s stock, valued at $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sona Chawla purchased 2,000 shares of the stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This trade represents a 10.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by company insiders.

CarMax Price Performance

CarMax stock opened at $62.54 on Friday. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $65.28. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. The firm has a 50 day moving average price of $57.56 and a 200 day moving average price of $48.10. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.81 and a beta of 1.17.

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

CarMax Company 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.