TD Waterhouse Canada Inc. Decreases Position in CarMax, Inc. $KMX

TD Waterhouse Canada Inc. lowered its stake in CarMax, Inc. (NYSE:KMX) by 50.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 11,532 shares of the company’s stock after selling 11,777 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in CarMax were worth $597,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in CarMax during the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc acquired a new stake in CarMax in the second quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new stake in CarMax in the second quarter valued at approximately $29,000. Basecamp Wealth Advisors LLC raised its stake in shares of CarMax by 105.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 327 shares during the period. Finally, Huntington National Bank raised its stake in shares of CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares during the period.

CarMax Stock Performance

Shares of KMX opened at $60.55 on Friday. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.76 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The business’s 50 day moving average is $58.49 and its two-hundred day moving average is $48.73. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $65.28.

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

Analyst Ratings Changes

KMX has been the subject of several analyst reports. Bank of America upped their target price 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. Zacks Research raised shares of CarMax from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Truist Financial boosted their price objective on shares of CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. raised shares of CarMax from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $38.00 to $60.00 in a research report on Wednesday, July 29th. Finally, Robert W. Baird raised their target price on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.00.

Insider Buying and Selling at CarMax

In related news, CEO Keith Barr acquired 9,400 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $53.01 per share, with a total value of $498,294.00. Following the acquisition, the chief executive officer directly owned 33,375 shares in the company, valued at approximately $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Bensen bought 2,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $52.20 per share, with a total value of $130,500.00. Following the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 13,900 shares of company stock worth $735,574 in the last ninety days. 1.01% of the stock is owned by insiders.

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.