Korea Investment CORP Acquires 1,033 Shares of CarMax Inc (KMX)
Korea Investment CORP raised its stake in CarMax Inc (NYSE:KMX) by 140.5% during the second quarter, Holdings Channel reports. The fund owned 1,768 shares of the company’s stock after buying an additional 1,033 shares during the period. Korea Investment CORP’s holdings in CarMax were worth $111,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KMX. State of Alaska Department of Revenue acquired a new position in CarMax during the second quarter valued at $112,000. First Bank & Trust increased its position in CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock valued at $123,000 after buying an additional 138 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock valued at $124,000 after buying an additional 49 shares during the last quarter. Global X Management Co. LLC increased its position in CarMax by 7.3% in the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock valued at $148,000 after buying an additional 169 shares during the last quarter. Finally, Heritage Wealth Advisors acquired a new position in CarMax during the second quarter valued at $204,000.
CarMax Inc (NYSE KMX) opened at 64.82 on Thursday. CarMax Inc has a 1-year low of $47.50 and a 1-year high of $69.11. The stock has a market capitalization of $11.88 billion, a PE ratio of 18.62 and a beta of 1.34. The company’s 50-day moving average is $64.82 and its 200 day moving average is $62.70.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 21st. The company reported $1.13 EPS for the quarter, beating the Zacks’ 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 company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. CarMax’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts predict that CarMax Inc will post $3.70 earnings per share for the current year.
A number of analysts have recently issued reports on KMX shares. Bank of America Corporation reissued a “buy” rating and issued a $82.00 price objective (up from $80.00) on shares of CarMax in a research note on Thursday, June 22nd. Deutsche Bank AG reissued a “buy” rating and issued a $73.00 price objective (up from $71.00) on shares of CarMax in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $74.00 price objective (up from $72.00) on shares of CarMax in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of CarMax in a research note on Thursday, May 18th. Finally, ValuEngine raised shares of CarMax from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. CarMax currently has an average rating of “Buy” and an average target price of $69.15.
In other CarMax news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $66.87, for a total value of $573,945.21. Following the transaction, the chief financial officer now owns 70,522 shares of the company’s stock, valued at $4,715,806.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mohammad Shamim sold 13,938 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $66.08, for a total transaction of $921,023.04. Following the completion of the transaction, the senior vice president now directly owns 9,218 shares in the company, valued at approximately $609,125.44. The disclosure for this sale can be found here. Insiders sold 188,515 shares of company stock worth $12,085,019 in the last ninety days. 1.70% of the stock is currently owned by corporate 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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