United Capital Financial Advisors LLC Purchases Shares of 32,701 CarMax, Inc. $KMX

United Capital Financial Advisors LLC purchased a new stake in CarMax, Inc. (NYSE:KMX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 32,701 shares of the company’s stock, valued at approximately $1,730,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KMX. AQR Capital Management LLC grew its position in shares of CarMax by 151.8% during the fourth 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 raised its stake in shares of CarMax by 1,717.5% during the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock valued at $217,845,000 after purchasing an additional 5,327,603 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of CarMax in the 2nd quarter worth approximately $245,676,000. Janus Henderson Group PLC lifted its holdings in CarMax by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock valued at $190,471,000 after acquiring an additional 49,987 shares during the last quarter. Finally, Primecap Management Co. CA acquired a new position in shares of CarMax in the 2nd quarter worth $230,548,000.

Insider Activity

In related news, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 33,375 shares in the company, valued at approximately $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter J. Bensen bought 2,500 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 13,900 shares of company stock valued at $735,574. Corporate insiders own 1.01% of the company’s stock.

CarMax Price Performance

CarMax stock opened at $61.96 on Friday. The business has a 50-day simple moving average of $56.79 and a 200 day simple moving average of $47.58. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 2.84 and a beta of 1.15. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $65.28. 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 (NYSE:KMX) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.35. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. On average, research analysts forecast that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on KMX shares. Mizuho lifted their price objective on CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Barclays upgraded shares of CarMax from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $37.00 to $61.00 in a research note on Tuesday, July 21st. UBS Group set a $60.00 target price on CarMax in a report on Wednesday, July 29th. Zacks Research raised shares of CarMax from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Truist Financial increased their price target on CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.00.

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.