Corient Private Wealth LP Invests $2.72 Million in CarMax, Inc. $KMX

Corient Private Wealth LP purchased a new stake in shares of CarMax, Inc. (NYSE:KMX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,436 shares of the company’s stock, valued at approximately $2,720,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMX. Bank of America Corp DE bought a new stake in CarMax during the 2nd quarter worth about $55,271,000. Man Group plc bought a new position in shares of CarMax in the 2nd quarter valued at about $9,649,000. Biglari Sardar acquired a new stake in shares of CarMax during the 2nd quarter worth approximately $2,173,779. Biglari Capital CORP. acquired a new stake in shares of CarMax during the 2nd quarter worth approximately $6,633,464. Finally, Jupiter Topco LLC bought a new stake in shares of CarMax during the second quarter worth approximately $245,676,000.

CarMax Stock Down 0.5%

Shares of NYSE KMX opened at $61.03 on Wednesday. CarMax, Inc. has a 52-week low of $30.26 and a 52-week 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 stock has a market cap of $8.66 billion, a P/E ratio of 39.89, a P/E/G ratio of 2.81 and a beta of 1.17. The firm has a 50 day moving average price of $57.15 and a 200 day moving average price of $47.81.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. Analysts expect that CarMax, Inc. will post 2.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KMX shares. Barclays raised shares of CarMax from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $37.00 to $61.00 in a research note on Tuesday, July 21st. Robert W. Baird increased their price target on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. UBS Group set a $60.00 price target on CarMax in a research report on Wednesday, July 29th. Royal Bank Of Canada lifted their price objective on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings upgraded CarMax from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. One equities research 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.00.

Insider Activity at CarMax

In other news, CEO Keith Barr acquired 9,400 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the transaction, the chief executive officer directly owned 33,375 shares in the company, valued at approximately $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sona Chawla bought 2,000 shares of CarMax stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the acquisition, the director owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This represents a 10.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 13,900 shares of company stock worth $735,574 in the last quarter. Corporate insiders own 1.01% of the company’s stock.

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.