Janney Montgomery Scott LLC Buys 380 Shares of CarMax, Inc. (NYSE:KMX)

Janney Montgomery Scott LLC raised its stake in CarMax, Inc. (NYSE:KMX) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,143 shares of the company’s stock after acquiring an additional 380 shares during the period. Janney Montgomery Scott LLC’s holdings in CarMax were worth $1,258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC increased its holdings in CarMax by 348.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock valued at $539,213,000 after acquiring an additional 5,122,850 shares during the last quarter. Norges Bank bought a new stake in CarMax in the 4th quarter valued at $423,187,000. Janus Henderson Group PLC increased its holdings in CarMax by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company’s stock valued at $381,978,000 after acquiring an additional 29,715 shares during the last quarter. Geode Capital Management LLC increased its holdings in CarMax by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock valued at $302,564,000 after acquiring an additional 47,058 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of CarMax by 4.3% in the 4th quarter. Baird Financial Group Inc. now owns 2,887,526 shares of the company’s stock worth $236,084,000 after buying an additional 119,666 shares during the last quarter.

CarMax Price Performance

KMX stock opened at $66.50 on Friday. CarMax, Inc. has a 12 month low of $61.34 and a 12 month high of $91.25. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The company has a 50-day moving average price of $65.78 and a 200 day moving average price of $74.76. The stock has a market cap of $10.15 billion, a PE ratio of 18.37, a P/E/G ratio of 1.09 and a beta of 1.38.

CarMax (NYSE:KMX) last released its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.20. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. Equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insider Buying and Selling at CarMax

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were purchased at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the purchase, the director now owns 33,577 shares in the company, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KMX shares. Wall Street Zen upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Royal Bank Of Canada boosted their target price on shares of CarMax from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, June 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $92.00 target price on shares of CarMax in a report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, CarMax currently has a consensus rating of “Moderate Buy” and an average target price of $85.10.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.