Deerfield Management Company L.P. Series C Purchases 1,474 Shares of CarMax, Inc. (NYSE:KMX)

Deerfield Management Company L.P. Series C increased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 61.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,881 shares of the company’s stock after purchasing an additional 1,474 shares during the period. Deerfield Management Company L.P. Series C’s holdings in CarMax were worth $285,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of KMX. Gilbert & Cook Inc. raised its position in shares of CarMax by 5.7% in the fourth quarter. Gilbert & Cook Inc. now owns 8,011 shares of the company’s stock valued at $615,000 after purchasing an additional 431 shares during the period. Franklin Resources Inc. lifted its position in CarMax by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 16,706 shares of the company’s stock worth $1,282,000 after acquiring an additional 212 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of CarMax by 14.3% during the fourth quarter. Hsbc Holdings PLC now owns 135,905 shares of the company’s stock worth $10,430,000 after acquiring an additional 17,004 shares during the period. TD Asset Management Inc boosted its holdings in shares of CarMax by 6.5% during the fourth quarter. TD Asset Management Inc now owns 41,855 shares of the company’s stock worth $3,212,000 after acquiring an additional 2,550 shares during the period. Finally, Stifel Financial Corp grew its position in shares of CarMax by 13.6% in the fourth quarter. Stifel Financial Corp now owns 246,152 shares of the company’s stock valued at $18,890,000 after purchasing an additional 29,479 shares during the last quarter.

CarMax Price Performance

CarMax stock opened at $77.32 on Friday. The stock has a fifty day moving average of $79.71 and a 200-day moving average of $76.33. The stock has a market capitalization of $12.07 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the firm posted $0.75 EPS. The firm’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction that occurred 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 $1,249,032.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Insiders sold a total of 184,012 shares of company stock valued at $14,803,843 in the last quarter. Insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KMX shares. JPMorgan Chase & Co. boosted their price target on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and issued a $80.00 price objective on shares of CarMax in a report on Friday, June 21st. Needham & Company LLC raised their target price on shares of CarMax from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Friday. Finally, Royal Bank of Canada increased their price target on CarMax from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday. Three 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $78.92.

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.