Jupiter Topco LLC Makes New Investment in CarMax, Inc. $KMX

Jupiter Topco LLC bought a new position in shares of CarMax, Inc. (NYSE:KMX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,645,036 shares of the company’s stock, valued at approximately $245,676,000. Jupiter Topco LLC owned approximately 3.27% of CarMax as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp increased its position in CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after buying an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after acquiring an additional 173 shares during the period. Huntington National Bank boosted its holdings in shares of CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the period. Ossiam grew its position in shares of CarMax by 19.5% during the second quarter. Ossiam now owns 1,713 shares of the company’s stock worth $115,000 after acquiring an additional 280 shares during the last quarter. Finally, Swiss Life Asset Management Ltd grew its position in shares of CarMax by 4.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 7,028 shares of the company’s stock worth $272,000 after acquiring an additional 298 shares during the last quarter.

CarMax Price Performance

Shares of NYSE KMX opened at $63.82 on Thursday. 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 stock has a fifty day moving average price of $56.44 and a 200 day moving average price of $47.37. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $65.28. The company has a market cap of $9.06 billion, a PE ratio of 41.71, a P/E/G ratio of 2.94 and a beta of 1.15.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. CarMax’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 EPS. Sell-side analysts forecast that CarMax, Inc. will post 2.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on KMX shares. Benchmark reiterated a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Morgan Stanley raised 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, June 23rd. JPMorgan Chase & Co. upgraded shares of CarMax from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $38.00 to $60.00 in a research note on Wednesday, July 29th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a report on Thursday, June 18th. Finally, UBS Group set a $60.00 target price on shares of CarMax in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.00.

Insider Transactions at CarMax

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

CarMax 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.