Royal London Asset Management Ltd. Buys 1,022 Shares of CarMax, Inc. (NYSE:KMX)

Royal London Asset Management Ltd. increased its stake in CarMax, Inc. (NYSE:KMX) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,843 shares of the company’s stock after purchasing an additional 1,022 shares during the period. Royal London Asset Management Ltd.’s holdings in CarMax were worth $4,609,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KMX. Norges Bank bought a new position in shares of CarMax in the fourth quarter worth approximately $288,278,000. Morningstar Investment Services LLC increased its position in shares of CarMax by 95.4% in the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after purchasing an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of CarMax by 1,327.3% in the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after purchasing an additional 951,558 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in CarMax by 3,094.0% in the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after buying an additional 577,685 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in CarMax by 5,711.9% in the fourth quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock worth $32,781,000 after buying an additional 419,826 shares in the last quarter.

CarMax Stock Performance

Shares of KMX stock opened at $78.78 on Friday. The stock has a fifty day moving average of $80.14 and a 200 day moving average of $76.53. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 1.53 and a beta of 1.69. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. As a group, research analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KMX. Argus raised CarMax to a “hold” rating in a research note on Tuesday, June 25th. Mizuho cut their target price on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Needham & Company LLC cut their target price on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Finally, Evercore ISI upped their target price on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $76.25.

Insider Buying and Selling

In related news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares of the company’s stock, valued at $1,249,032.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CarMax news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the transaction, the chief financial officer now owns 20,260 shares in the company, valued at $1,690,899.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The disclosure for this sale can be found here. Insiders sold 185,243 shares of company stock valued at $14,893,042 over the last quarter. 1.66% of the stock is owned by company insiders.

CarMax 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.