Putnam Investments LLC Increases Stock Holdings in CarMax, Inc. (NYSE:KMX)

Putnam Investments LLC raised its holdings in CarMax, Inc. (NYSE:KMX) by 41.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,623 shares of the company’s stock after buying an additional 19,666 shares during the quarter. Putnam Investments LLC’s holdings in CarMax were worth $4,347,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of CarMax by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,690,606 shares of the company’s stock worth $1,706,790,000 after buying an additional 303,973 shares during the period. BlackRock Inc. boosted its position in CarMax by 1.8% in the first quarter. BlackRock Inc. now owns 10,633,886 shares of the company’s stock valued at $683,546,000 after buying an additional 184,104 shares during the last quarter. Akre Capital Management LLC boosted its holdings in shares of CarMax by 0.7% in the 1st quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock valued at $708,159,000 after acquiring an additional 49,780 shares during the last quarter. State Street Corp increased its stake in shares of CarMax by 0.7% in the third quarter. State Street Corp now owns 6,137,852 shares of the company’s stock worth $405,221,000 after acquiring an additional 40,047 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of CarMax by 8.4% during the first quarter. Invesco Ltd. now owns 3,757,420 shares of the company’s stock worth $362,515,000 after purchasing an additional 291,804 shares during the last quarter.

CarMax Trading Down 0.7 %

NYSE KMX opened at $83.24 on Friday. The firm’s fifty day moving average price is $82.78 and its 200 day moving average price is $75.06. CarMax, Inc. has a 12 month low of $52.10 and a 12 month high of $87.50. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.54 and a quick ratio of 0.61. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 1.77 and a beta of 1.44.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, June 23rd. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.65. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.49 billion. CarMax had a return on equity of 7.46% and a net margin of 1.64%. The company’s revenue was down 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 earnings per share. On average, sell-side analysts expect that CarMax, Inc. will post 2.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William D. Nash sold 170,646 shares of CarMax stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $82.57, for a total value of $14,090,240.22. Following the sale, the chief executive officer now directly owns 177,180 shares in the company, valued at $14,629,752.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other CarMax news, CEO William D. Nash sold 170,646 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $82.57, for a total transaction of $14,090,240.22. Following the completion of the transaction, the chief executive officer now owns 177,180 shares of the company’s stock, valued at $14,629,752.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jon G. Daniels sold 7,783 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $85.25, for a total transaction of $663,500.75. Following the completion of the transaction, the senior vice president now directly owns 1,525 shares of the company’s stock, valued at approximately $130,006.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,993 shares of company stock worth $25,375,428. 1.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KMX. Robert W. Baird increased their price target on CarMax from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. JPMorgan Chase & Co. raised their target price on CarMax from $55.00 to $60.00 in a report on Monday, June 26th. Oppenheimer boosted their price target on CarMax from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Northcoast Research cut shares of CarMax from a “buy” rating to a “neutral” rating in a research note on Monday, June 12th. Finally, Wedbush reiterated a “neutral” rating and issued a $85.00 target price on shares of CarMax in a research note on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CarMax presently has an average rating of “Hold” and a consensus target price of $77.60.

CarMax Profile

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.