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

Van ECK Associates Corp lifted its holdings in shares of CarMax, Inc. (NYSE:KMX) by 153.5% during the fourth quarter, Holdings Channel reports. The fund owned 40,374 shares of the company’s stock after purchasing an additional 24,450 shares during the quarter. Van ECK Associates Corp’s holdings in CarMax were worth $3,098,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Allworth Financial LP grew its position in shares of CarMax by 153.3% during the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in CarMax by 1,081.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after buying an additional 400 shares during the last quarter. Mendota Financial Group LLC acquired a new stake in CarMax during the fourth quarter valued at approximately $37,000. MCF Advisors LLC bought a new position in CarMax during the 4th quarter worth approximately $46,000. Finally, Lindbrook Capital LLC grew its position in shares of CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after acquiring an additional 155 shares in the last quarter.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction 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 directly owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.66% of the company’s stock.

CarMax Trading Up 1.3 %

Shares of KMX stock opened at $69.59 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. The stock has a 50-day simple moving average of $77.62 and a 200 day simple moving average of $72.16. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The stock has a market capitalization of $10.95 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.15 and a beta of 1.64.

CarMax (NYSE:KMX) last released its earnings results on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, sell-side analysts expect that CarMax, Inc. will post 3.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on KMX shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of CarMax in a report on Monday, April 8th. Robert W. Baird lowered their target price on CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, April 12th. Evercore ISI cut their price target on CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. StockNews.com upgraded CarMax to a “sell” rating in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.