The Manufacturers Life Insurance Company Grows Holdings in CarMax, Inc. $KMX

The Manufacturers Life Insurance Company boosted its position in CarMax, Inc. (NYSE:KMX) by 0.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,420,139 shares of the company’s stock after acquiring an additional 21,882 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CarMax were worth $128,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp grew its stake in CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares in the last quarter. Empowered Funds LLC grew its stake in CarMax by 12.5% during the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock valued at $411,000 after purchasing an additional 585 shares in the last quarter. Intech Investment Management LLC increased its holdings in CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after purchasing an additional 7,307 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of CarMax in the 1st quarter valued at approximately $727,000.

CarMax Stock Performance

Shares of NYSE KMX opened at $61.47 on Friday. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $65.28. The firm has a market cap of $8.72 billion, a P/E ratio of 40.18, a PEG ratio of 2.77 and a beta of 1.17. The stock has a fifty day moving average price of $58.70 and a two-hundred day moving average price of $48.82. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.

CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. Research analysts forecast that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KMX has been the subject of several research analyst reports. Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $37.00 to $61.00 in a research note on Tuesday, July 21st. Robert W. Baird upped their price target on shares of CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. UBS Group set a $60.00 price target on shares of CarMax in a report on Wednesday, July 29th. Bank of America increased their price objective on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.00.

Insiders Place Their Bets

In related news, Director Peter Bensen acquired 2,500 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the acquisition, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith Barr bought 9,400 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the completion of the acquisition, the chief executive officer owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 13,900 shares of company stock worth $735,574. Company insiders own 1.01% of the company’s stock.

CarMax Profile

CarMax, Inc is a specialty retailer of used vehicles and one of the largest automotive retailers in the United States. The company sells a broad selection of used cars, trucks and sport utility vehicles through its retail locations and online platform. CarMax also purchases vehicles from consumers and other sources, providing customers with a streamlined alternative to traditional private-party sales.

In addition to retail sales, CarMax operates wholesale vehicle auctions for vehicles that do not meet its retail standards or business requirements.