Sona Chawla Acquires 2,000 Shares of CarMax (NYSE:KMX) Stock

CarMax, Inc. (NYSE:KMX) Director Sona Chawla acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the purchase, the director directly owned 21,702 shares in the company, valued at $1,158,669.78. This represents a 10.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

CarMax Stock Down 0.3%

Shares of CarMax stock opened at $52.72 on Friday. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $71.99. 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 stock has a 50 day moving average price of $43.49 and a two-hundred day moving average price of $43.10. The stock has a market capitalization of $7.48 billion, a P/E ratio of 34.46, a PEG ratio of 1.77 and a beta of 1.21.

CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter last year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that CarMax, Inc. will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SRS Investment Management LLC lifted its stake in shares of CarMax by 1,717.5% in the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock valued at $217,845,000 after buying an additional 5,327,603 shares during the period. AQR Capital Management LLC raised its holdings in CarMax by 151.8% in the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after acquiring an additional 4,780,903 shares in the last quarter. Norges Bank acquired a new position in CarMax in the 4th quarter valued at approximately $159,232,000. Arrowstreet Capital Limited Partnership lifted its position in shares of CarMax by 73.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after acquiring an additional 1,494,205 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in shares of CarMax in the 1st quarter worth approximately $48,634,000.

Wall Street Analysts Forecast Growth

KMX has been the subject of a number of recent analyst reports. Mizuho upped their price target on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective on the stock in a research note on Thursday, June 18th. UBS Group boosted their price objective on CarMax from $42.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research note on Wednesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $47.73.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.