Essex Financial Services Inc. Buys New Shares in CarMax, Inc. (NYSE:KMX)

Essex Financial Services Inc. bought a new stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,876 shares of the company's stock, valued at approximately $235,000.

Other large investors also recently modified their holdings of the company. Birch Hill Investment Advisors LLC grew its stake in CarMax by 7.7% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 28,649 shares of the company's stock valued at $2,342,000 after purchasing an additional 2,060 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of CarMax during the 4th quarter valued at approximately $811,000. Empowered Funds LLC acquired a new stake in shares of CarMax during the fourth quarter worth approximately $383,000. Wilmington Savings Fund Society FSB increased its stake in shares of CarMax by 3.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company's stock worth $383,000 after buying an additional 141 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in CarMax by 2.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,684 shares of the company's stock valued at $1,446,000 after acquiring an additional 380 shares in the last quarter.

Analyst Ratings Changes

KMX has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of CarMax from $70.00 to $72.00 and gave the stock an "underweight" rating in a report on Friday, December 20th. Stephens started coverage on CarMax in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $86.00 price target for the company. Evercore ISI upgraded CarMax from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $90.00 to $110.00 in a research note on Thursday, February 6th. Needham & Company LLC lifted their target price on CarMax from $98.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada upped their price target on CarMax from $92.00 to $99.00 and gave the company an "overweight" rating in a research report on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $87.50.

CarMax Stock Performance

Shares of CarMax stock traded up $1.31 during trading on Monday, hitting $88.91. 1,671,132 shares of the stock were exchanged, compared to its average volume of 1,478,010. The stock has a market cap of $13.67 billion, a PE ratio of 30.14, a P/E/G ratio of 1.70 and a beta of 1.72. The stock's fifty day moving average is $83.41 and its 200 day moving average is $79.85. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. CarMax's revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. As a group, sell-side analysts anticipate that CarMax, Inc. will post 3.22 EPS for the current year.

Insider Buying and Selling at CarMax

In related news, EVP Mohammad Shamim sold 10,000 shares of CarMax stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.77, for a total transaction of $837,700.00. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $983,292.26. The trade was a 46.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Nash sold 120,513 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares of the company's stock, valued at $15,123,292.92. The trade was a 39.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,467 shares of company stock valued at $21,915,445 in the last quarter. Corporate insiders own 1.66% of the company's stock.

CarMax 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.