Clifford Swan Investment Counsel LLC Has $13.47 Million Position in CarMax, Inc. $KMX

Clifford Swan Investment Counsel LLC boosted its stake in shares of CarMax, Inc. (NYSE:KMX) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324,084 shares of the company’s stock after acquiring an additional 23,486 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in CarMax were worth $13,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC acquired a new stake in shares of CarMax during the 2nd quarter worth $28,000. MUFG Securities EMEA plc bought a new position in shares of CarMax in the second quarter worth $30,000. Huntington National Bank raised its stake in 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 purchasing an additional 265 shares in the last quarter. Advisory Services Network LLC acquired a new position in CarMax in the third quarter valued at about $32,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in CarMax in the fourth quarter valued at about $33,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KMX shares. UBS Group increased their price objective on shares of CarMax from $42.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. Benchmark restated a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a report on Monday, July 6th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price target on the stock in a research report on Thursday, June 18th. Finally, Barclays lifted their price objective on shares of CarMax from $31.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $47.73.

CarMax Price Performance

Shares of KMX stock opened at $57.37 on Friday. The business has a fifty day simple moving average of $47.73 and a 200 day simple moving average of $44.53. The company has a market cap of $8.14 billion, a P/E ratio of 37.50, a P/E/G ratio of 1.89 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $63.74.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The firm 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 business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.38 earnings per share. On average, sell-side analysts forecast that CarMax, Inc. will post 2.7 EPS for the current fiscal year.

Insider Activity

In related news, Director Sona Chawla acquired 2,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the transaction, the director directly owned 21,702 shares in the company, valued at $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter J. Bensen acquired 2,500 shares of the 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 transaction, the director owned 24,796 shares in the company, valued at $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 13,900 shares of company stock worth $735,574. Corporate insiders own 1.01% of the company’s stock.

About CarMax

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.