Van ECK Associates Corp Boosts Stock Holdings in CarMax, Inc. (NYSE:KMX)

Van ECK Associates Corp increased its stake in CarMax, Inc. (NYSE:KMX) by 153.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,374 shares of the company’s stock after acquiring an additional 24,450 shares during the period. Van ECK Associates Corp’s holdings in CarMax were worth $3,098,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of CarMax by 3.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,944 shares of the company’s stock worth $2,047,000 after buying an additional 999 shares in the last quarter. Raymond James & Associates grew its holdings in CarMax by 3.8% during the 3rd quarter. Raymond James & Associates now owns 293,176 shares of the company’s stock worth $20,736,000 after acquiring an additional 10,824 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of CarMax by 2.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 216,630 shares of the company’s stock valued at $15,322,000 after purchasing an additional 5,355 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of CarMax by 1.9% in the 3rd quarter. Forsta AP Fonden now owns 32,800 shares of the company’s stock valued at $2,320,000 after purchasing an additional 600 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of CarMax by 7.3% in the 3rd quarter. Mackenzie Financial Corp now owns 6,890 shares of the company’s stock valued at $475,000 after purchasing an additional 470 shares in the last quarter.

Insider Buying and Selling at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares in the company, valued at $485,110.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.66% of the company’s stock.

CarMax Trading Up 1.3 %

Shares of CarMax stock opened at $69.59 on Tuesday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. The company has a market capitalization of $10.95 billion, a P/E ratio of 22.97, a PEG ratio of 1.15 and a beta of 1.64. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The company’s fifty day moving average is $77.62 and its two-hundred day moving average is $72.16.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. CarMax’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. Analysts forecast that CarMax, Inc. will post 3.27 earnings per share for the current year.

Analyst Ratings Changes

KMX has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of CarMax in a report on Tuesday, April 16th. Bank of America raised their target price on CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price target on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Monday, April 15th. Mizuho dropped their price target on shares of CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, Needham & Company LLC reduced their price objective on shares of CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.42.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.