Daiwa Securities Group Inc. Acquires 908 Shares of CarMax, Inc. (NYSE:KMX)

Daiwa Securities Group Inc. increased its holdings in CarMax, Inc. (NYSE:KMX) by 3.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 25,165 shares of the company’s stock after purchasing an additional 908 shares during the period. Daiwa Securities Group Inc.’s holdings in CarMax were worth $1,846,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of KMX. Gilbert & Cook Inc. increased its holdings in CarMax by 5.7% in the 4th quarter. Gilbert & Cook Inc. now owns 8,011 shares of the company’s stock worth $615,000 after buying an additional 431 shares in the last quarter. Private Advisor Group LLC boosted its position in CarMax by 27.8% in the fourth quarter. Private Advisor Group LLC now owns 11,483 shares of the company’s stock worth $881,000 after purchasing an additional 2,497 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in CarMax by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,930,606 shares of the company’s stock worth $148,168,000 after purchasing an additional 164,024 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in CarMax by 12.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,923 shares of the company’s stock worth $1,759,000 after purchasing an additional 2,488 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in CarMax by 9.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 160,975 shares of the company’s stock worth $11,676,000 after purchasing an additional 14,409 shares during the last quarter.

CarMax Stock Up 3.3 %

NYSE KMX opened at $78.78 on Friday. The stock’s 50 day moving average is $80.14 and its 200 day moving average is $76.53. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The stock has a market cap of $12.30 billion, a PE ratio of 30.77, a P/E/G ratio of 1.53 and a beta of 1.69.

CarMax (NYSE:KMX) last posted 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 for the quarter, compared to analysts’ expectations of $7.16 billion. During the same period in the previous year, the firm earned $1.16 EPS. The firm’s revenue was down 7.5% compared to the same quarter last year. Research analysts predict that CarMax, Inc. will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KMX has been the topic of several research reports. Needham & Company LLC dropped their target price on CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Argus raised CarMax to a “hold” rating in a research report on Tuesday, June 25th. Evercore ISI raised their target price on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 16th. Truist Financial lifted their price objective on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, June 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, CarMax has an average rating of “Hold” and an average price target of $76.25.

Insider Buying and Selling

In related news, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $965,567.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the transaction, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,690,899.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,243 shares of company stock valued at $14,893,042. Corporate insiders own 1.66% of the company’s stock.

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.