OLD National Bancorp IN Acquires 35,340 Shares of CarMax, Inc. $KMX

OLD National Bancorp IN lifted its stake in shares of CarMax, Inc. (NYSE:KMX) by 22.3% during the first quarter, HoldingsChannel.com reports. The firm owned 193,940 shares of the company’s stock after purchasing an additional 35,340 shares during the quarter. OLD National Bancorp IN’s holdings in CarMax were worth $8,064,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after purchasing an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CarMax by 0.6% during 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 buying an additional 173 shares during the period. Blue Trust Inc. lifted its holdings in shares of CarMax by 20.0% in the fourth quarter. Blue Trust Inc. now owns 1,424 shares of the company’s stock worth $55,000 after buying an additional 237 shares in the last quarter. Huntington National Bank lifted 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 worth $27,000 after buying an additional 265 shares in the last quarter. Finally, Ossiam boosted its position in shares of CarMax by 19.5% in the second quarter. Ossiam now owns 1,713 shares of the company’s stock valued at $115,000 after acquiring an additional 280 shares during the period.

CarMax Trading Down 0.3%

Shares of KMX opened at $52.72 on Friday. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $71.99. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 1.77 and a beta of 1.21. The firm has a 50 day moving average price of $43.49 and a 200-day moving average price of $43.10. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 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 analyst estimates of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. As a group, equities research analysts forecast that CarMax, Inc. will post 2.6 earnings per share for the current year.

Insider Buying and Selling at CarMax

In related news, CEO Keith Barr bought 9,400 shares of the stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $53.01 per share, with a total value of $498,294.00. Following the purchase, the chief executive officer owned 33,375 shares in the company, valued at approximately $1,769,208.75. The trade was a 39.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter J. Bensen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $52.20 per share, with a total value of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares in the company, valued at $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 13,900 shares of company stock worth $735,574 over the last three months. Company insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. Wall Street Zen upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Royal Bank Of Canada upped their price target on shares of CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Robert W. Baird upped their price target on shares of CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Finally, Barclays increased their price objective on CarMax from $31.00 to $37.00 and gave the stock an “underweight” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, CarMax currently has an average rating of “Reduce” and an average target price of $47.73.

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.