Voya Investment Management LLC Has $6.93 Million Stock Position in CarMax, Inc. $KMX

Voya Investment Management LLC boosted its position in CarMax, Inc. (NYSE:KMX) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,958 shares of the company’s stock after buying an additional 9,152 shares during the period. Voya Investment Management LLC owned approximately 0.06% of CarMax worth $6,932,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in shares of CarMax during the first quarter valued at approximately $27,000. Accent Capital Management LLC bought a new position in shares of CarMax during the first quarter valued at about $34,000. Strengthening Families & Communities LLC boosted its holdings in CarMax by 93.1% during the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock worth $39,000 after purchasing an additional 256 shares during the last quarter. Ameriflex Group Inc. bought a new stake in CarMax in the 4th quarter worth about $53,000. Finally, Quarry LP increased its stake in CarMax by 50.5% in the 1st quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after buying an additional 233 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on KMX shares. Morgan Stanley initiated coverage on CarMax in a research report on Tuesday, July 1st. They issued an “overweight” rating and a $80.00 price objective on the stock. Mizuho lowered their price objective on CarMax from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Thursday, July 3rd. Evercore ISI dropped their price objective on shares of CarMax from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. JPMorgan Chase & Co. upgraded shares of CarMax from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $65.00 to $58.00 in a research note on Wednesday, August 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $84.00 price objective on shares of CarMax in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CarMax currently has an average rating of “Moderate Buy” and a consensus price target of $80.92.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of the sale, the executive vice president owned 2,779 shares of the company’s stock, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

CarMax Trading Down 2.1%

Shares of KMX opened at $59.10 on Thursday. CarMax, Inc. has a 1-year low of $54.53 and a 1-year high of $91.25. The company has a market capitalization of $8.87 billion, a P/E ratio of 16.33, a P/E/G ratio of 0.98 and a beta of 1.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. The firm’s 50 day simple moving average is $59.89 and its 200 day simple moving average is $65.92.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

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.