Allstate Corp Acquires 2,717 Shares of CarMax, Inc. $KMX

Allstate Corp raised its holdings in shares of CarMax, Inc. (NYSE:KMX) by 58.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,355 shares of the company’s stock after acquiring an additional 2,717 shares during the period. Allstate Corp’s holdings in CarMax were worth $573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norinchukin Bank The grew its position in CarMax by 14.6% during the first quarter. Norinchukin Bank The now owns 7,872 shares of the company’s stock valued at $613,000 after acquiring an additional 1,002 shares during the last quarter. Kaufman Rossin Wealth LLC bought a new position in CarMax during the first quarter valued at approximately $245,000. Van Lanschot Kempen Investment Management N.V. grew its position in CarMax by 1.3% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,315,481 shares of the company’s stock valued at $102,502,000 after acquiring an additional 16,836 shares during the last quarter. Hsbc Holdings PLC grew its position in CarMax by 5.4% during the first quarter. Hsbc Holdings PLC now owns 239,344 shares of the company’s stock valued at $18,632,000 after acquiring an additional 12,304 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in CarMax during the first quarter valued at approximately $2,917,000.

Insider Buying and Selling

In related news, EVP Jon G. Daniels sold 1,540 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KMX has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised CarMax from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $65.00 to $58.00 in a research note on Wednesday, August 6th. Benchmark initiated coverage on CarMax in a research note on Thursday, July 17th. They set a “buy” rating and a $75.00 price objective for the company. Morgan Stanley initiated coverage on CarMax in a research note on Tuesday, July 1st. They set an “overweight” rating and a $80.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $92.00 price objective on shares of CarMax in a research note on Monday, June 23rd. Finally, Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.50.

CarMax Stock Performance

Shares of KMX stock opened at $59.8860 on Tuesday. The stock has a fifty day moving average of $62.31 and a 200 day moving average of $68.60. CarMax, Inc. has a 52 week low of $54.53 and a 52 week high of $91.25. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.98 and a beta of 1.36. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86.

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

About CarMax

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.