I'm LongbridgeAI, I can summarize articles.BlackRock Inc. reduced its CarMax (KMX) stake by 1.0% in Q2, selling 165,372 shares to hold 17,092,089 shares valued at ~$904 million. Other investors like Bessemer and Bank of America increased their positions. Analysts recently upgraded or raised price targets for KMX, with a consensus 'Hold' rating and $51 target. CarMax reported Q1 EPS of $1.31, beating estimates, with revenue up 6.2%. Insider Peter Bensen also bought shares.
BlackRock Inc. decreased its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,092,089 shares of the company's stock after selling 165,372 shares during the period. BlackRock Inc. owned approximately 12.04% of CarMax worth $904,001,000 at the end of the most recent reporting period.
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Several other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in CarMax by 28.1% during the first quarter. Bessemer Group Inc. now owns 156,121 shares of the company's stock valued at $6,491,000 after purchasing an additional 34,211 shares in the last quarter. Bank of America Corp DE grew its stake in shares of CarMax by 61.7% in the 1st quarter. Bank of America Corp DE now owns 1,687,359 shares of the company's stock worth $70,160,000 after buying an additional 643,834 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in shares of CarMax in the 1st quarter worth $1,688,000. BML Capital Management LLC bought a new stake in shares of CarMax in the 4th quarter worth about $5,989,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of CarMax in the 1st quarter worth about $2,615,000.
Analyst Ratings Changes
KMX has been the subject of a number of analyst reports. Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and set a $66.00 price target for the company in a report on Thursday, June 18th. Barclays upgraded CarMax from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $37.00 to $61.00 in a report on Tuesday, July 21st. Morgan Stanley upped their price objective on CarMax from $35.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 23rd. Bank of America increased their target price on CarMax from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 17th. Finally, UBS Group set a $60.00 target price on CarMax in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $51.00.
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Read Our Latest Stock Analysis on KMX
CarMax Stock Performance
KMX stock opened at $62.14 on Friday. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 2.84 and a beta of 1.15. The firm has a 50-day simple moving average of $55.65 and a two-hundred day simple moving average of $46.98. CarMax, Inc. has a one year low of $30.26 and a one year high of $63.00. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.
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CarMax (NYSE:KMX - Get Free Report) last announced its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $7.42 billion. During the same period last year, the firm earned $1.38 earnings per share. CarMax's revenue was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that CarMax, Inc. will post 2.73 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Peter J. Bensen acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $52.20 per share, with a total value of $130,500.00. Following the transaction, the director directly owned 24,796 shares of the company's stock, valued at $1,294,351.20. This trade represents a 11.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith Barr acquired 9,400 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost 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. The trade was a 39.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by corporate insiders.
About CarMax
(Free Report)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.
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