Park Avenue Securities LLC Has $1.23 Million Position in CarMax, Inc. (NYSE:KMX)

Park Avenue Securities LLC grew its holdings in CarMax, Inc. (NYSE:KMX) by 61.2% during the first quarter, Holdings Channel.com reports. The firm owned 14,154 shares of the company’s stock after acquiring an additional 5,376 shares during the period. Park Avenue Securities LLC’s holdings in CarMax were worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in CarMax by 16.4% in the fourth quarter. BNP Paribas Financial Markets now owns 127,402 shares of the company’s stock worth $9,777,000 after purchasing an additional 17,973 shares in the last quarter. Fairview Capital Investment Management LLC lifted its stake in shares of CarMax by 7.0% during the fourth quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock valued at $19,302,000 after acquiring an additional 16,438 shares during the period. Quadrature Capital Ltd acquired a new position in shares of CarMax during the fourth quarter valued at $5,637,000. Charles Schwab Investment Management Inc. lifted its stake in shares of CarMax by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company’s stock valued at $76,058,000 after acquiring an additional 30,107 shares during the period. Finally, First Pacific Advisors LP lifted its stake in shares of CarMax by 1.2% during the fourth quarter. First Pacific Advisors LP now owns 2,331,545 shares of the company’s stock valued at $178,923,000 after acquiring an additional 28,095 shares during the period.

CarMax Stock Up 2.2 %

Shares of CarMax stock opened at $73.18 on Tuesday. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The business has a 50-day moving average of $70.32 and a two-hundred day moving average of $73.92. The company has a market capitalization of $11.52 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 1.40 and a beta of 1.69. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.67.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The company had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, equities analysts predict that CarMax, Inc. will post 3.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KMX shares. Needham & Company LLC cut their price target on CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com raised CarMax to a “sell” rating in a research note on Monday, April 22nd. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of CarMax in a research note on Tuesday, June 18th. Mizuho dropped their price objective on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $80.00 price objective on shares of CarMax in a report on Friday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $75.50.

Insider Buying and Selling

In related news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at $485,110.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.66% of the stock is owned by corporate insiders.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.