CIBC Asset Management Inc Increases Stake in CarMax Inc (KMX)
CIBC Asset Management Inc increased its position in CarMax Inc (NYSE:KMX) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,526 shares of the company’s stock after buying an additional 45 shares during the period. CIBC Asset Management Inc’s holdings in CarMax were worth $1,168,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in KMX. Sumitomo Mitsui Asset Management Company LTD boosted its stake in CarMax by 8.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,263 shares of the company’s stock worth $903,000 after buying an additional 1,201 shares in the last quarter. First Bank & Trust boosted its stake in CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock worth $123,000 after buying an additional 138 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in CarMax by 42.2% in the first quarter. Russell Investments Group Ltd. now owns 869,717 shares of the company’s stock worth $51,505,000 after buying an additional 258,213 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in CarMax by 1.2% in the first quarter. Glen Harbor Capital Management LLC now owns 9,156 shares of the company’s stock worth $542,000 after buying an additional 112 shares in the last quarter. Finally, Howard Hughes Medical Institute boosted its stake in CarMax by 8.3% in the first quarter. Howard Hughes Medical Institute now owns 47,779 shares of the company’s stock worth $2,829,000 after buying an additional 3,648 shares in the last quarter.
Shares of CarMax Inc (NYSE KMX) opened at 64.42 on Friday. The stock has a market cap of $11.80 billion, a PE ratio of 18.50 and a beta of 1.34. CarMax Inc has a 52 week low of $47.50 and a 52 week high of $69.11. The company’s 50-day moving average is $64.65 and its 200 day moving average is $62.81.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts forecast that CarMax Inc will post $3.70 earnings per share for the current fiscal year.
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A number of research firms have recently commented on KMX. ValuEngine cut shares of CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub raised shares of CarMax from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Wedbush set a $73.00 target price on shares of CarMax and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Finally, CIBC reissued a “buy” rating on shares of CarMax in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $69.00.
In other CarMax news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $66.87, for a total transaction of $573,945.21. Following the completion of the transaction, the chief financial officer now directly owns 70,522 shares in the company, valued at approximately $4,715,806.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Folliard sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $61.41, for a total transaction of $3,070,500.00. Following the transaction, the director now owns 509,166 shares of the company’s stock, valued at $31,267,884.06. The disclosure for this sale can be found here. Insiders have sold a total of 188,515 shares of company stock valued at $12,085,019 over the last 90 days. 1.70% of the stock is currently owned by insiders.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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