Keith Barr Buys 9,400 Shares of CarMax (NYSE:KMX) Stock

CarMax, Inc. (NYSE:KMX) CEO Keith Barr purchased 9,400 shares of the firm’s stock in a transaction 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 owned 33,375 shares of the company’s stock, valued at $1,769,208.75. The trade was a 39.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CarMax Price Performance

Shares of NYSE:KMX traded down $1.29 on Wednesday, reaching $50.62. 4,161,796 shares of the company traded hands, compared to its average volume of 3,510,824. The stock has a market capitalization of $7.18 billion, a PE ratio of 33.09, a P/E/G ratio of 1.81 and a beta of 1.21. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The company’s 50 day moving average is $42.99 and its 200-day moving average is $42.85. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $71.99.

CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. As a group, analysts anticipate that CarMax, Inc. will post 2.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

KMX has been the subject of several recent analyst reports. Benchmark reiterated a “hold” rating on shares of CarMax in a report on Thursday, June 18th. Argus upgraded shares of CarMax to a “hold” rating in a research report on Thursday, April 16th. Morgan Stanley lifted their price objective on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price on the stock in a research note on Thursday, June 18th. Finally, Truist Financial increased their target price on CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $47.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in CarMax by 151.8% in the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after buying an additional 4,780,903 shares in the last quarter. SRS Investment Management LLC increased its stake in shares of CarMax by 1,717.5% in the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after acquiring an additional 5,327,603 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of CarMax by 1.1% in the first quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock worth $190,471,000 after acquiring an additional 49,987 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CarMax by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company’s stock worth $177,767,000 after acquiring an additional 289,768 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of CarMax during the fourth quarter worth $159,232,000.

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.