Resona Asset Management Co. Ltd. Acquires 1,871 Shares of CarMax, Inc. (NYSE:KMX)

Resona Asset Management Co. Ltd. raised its holdings in CarMax, Inc. (NYSE:KMX) by 3.9% in the first quarter, Holdings Channel reports. The firm owned 49,532 shares of the company’s stock after purchasing an additional 1,871 shares during the period. Resona Asset Management Co. Ltd.’s holdings in CarMax were worth $3,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of KMX. Rockefeller Capital Management L.P. bought a new position in CarMax in the 4th quarter valued at $829,000. Gabelli Funds LLC grew its stake in CarMax by 4.9% in the 4th quarter. Gabelli Funds LLC now owns 64,000 shares of the company’s stock valued at $5,233,000 after purchasing an additional 3,000 shares during the period. NewEdge Advisors LLC lifted its position in shares of CarMax by 3.0% during the 4th quarter. NewEdge Advisors LLC now owns 35,857 shares of the company’s stock valued at $2,932,000 after buying an additional 1,032 shares during the last quarter. Marshall Wace LLP lifted its position in shares of CarMax by 8.9% during the 4th quarter. Marshall Wace LLP now owns 689,494 shares of the company’s stock valued at $56,373,000 after buying an additional 56,126 shares during the last quarter. Finally, Farringdon Capital Ltd. purchased a new position in shares of CarMax during the 4th quarter valued at $379,000.

Insider Buying and Selling at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president owned 2,779 shares of the company’s stock, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Evercore ISI dropped their price target on CarMax from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday. Mizuho dropped their price target on CarMax from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, July 3rd. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of CarMax in a research report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. raised CarMax from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $65.00 to $58.00 in a research report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.75.

CarMax Stock Down 0.7%

KMX opened at $57.76 on Friday. The company has a fifty day moving average price of $63.25 and a 200-day moving average price of $69.92. The firm has a market capitalization of $8.67 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.94 and a beta of 1.36. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. CarMax, Inc. has a one year low of $54.53 and a one year high of $91.25.

CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the business earned $0.97 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

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.