Torno Capital LLC Purchases New Holdings in CarMax, Inc. (NYSE:KMX)

Torno Capital LLC purchased a new stake in CarMax, Inc. (NYSE:KMX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,500 shares of the company’s stock, valued at approximately $183,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its holdings in CarMax by 5.7% during 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 during the last quarter. D.A. Davidson & CO. lifted its holdings in CarMax by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 11,850 shares of the company’s stock worth $909,000 after buying an additional 400 shares during the last quarter. Franklin Resources Inc. lifted its holdings in CarMax by 1.3% during the 4th quarter. Franklin Resources Inc. now owns 16,706 shares of the company’s stock worth $1,282,000 after buying an additional 212 shares during the last quarter. Intech Investment Management LLC lifted its holdings in CarMax by 18.9% during the 4th quarter. Intech Investment Management LLC now owns 42,950 shares of the company’s stock worth $3,296,000 after buying an additional 6,816 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in CarMax by 14.3% during the 4th quarter. Hsbc Holdings PLC now owns 135,905 shares of the company’s stock worth $10,430,000 after buying an additional 17,004 shares during the last quarter.

Insider Activity at CarMax

In related news, EVP Mohammad Shamim sold 25,000 shares of the firm’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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Mohammad Shamim sold 25,000 shares of the firm’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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The disclosure for this sale can be found here. Insiders have sold a total of 185,243 shares of company stock worth $14,893,042 in the last three months. 1.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KMX has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 target price on shares of CarMax in a report on Friday, June 21st. Evercore ISI increased their target price on CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a report on Tuesday, July 16th. Needham & Company LLC reduced their target price on CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, June 24th. StockNews.com raised CarMax to a “sell” rating in a report on Friday, July 26th. Finally, Mizuho cut their price target on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $77.50.

CarMax Stock Up 0.5 %

KMX opened at $76.45 on Tuesday. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The stock has a market cap of $11.93 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.53 and a beta of 1.69. The stock’s 50 day moving average price is $80.15 and its 200 day moving average price is $76.43.

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

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.