CarMax, Inc. (NYSE:KMX) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 53.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,362 shares of the company's stock after buying an additional 9,509 shares during the quarter. Franklin Resources Inc.'s holdings in CarMax were worth $1,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KMX. Quarry LP lifted its holdings in CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company's stock valued at $31,000 after acquiring an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of CarMax in the 3rd quarter valued at $32,000. True Wealth Design LLC grew its holdings in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company's stock worth $34,000 after purchasing an additional 436 shares during the period. Studio Investment Management LLC lifted its holdings in shares of CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company's stock worth $38,000 after acquiring an additional 334 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in CarMax by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company's stock valued at $57,000 after acquiring an additional 353 shares in the last quarter.

CarMax Stock Performance

CarMax stock traded down $1.40 during trading hours on Friday, reaching $83.77. 1,319,861 shares of the stock were exchanged, compared to its average volume of 1,935,463. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25. The stock has a market cap of $12.98 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.74 and a beta of 1.71. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The firm's 50 day moving average is $80.03 and its 200 day moving average is $78.14.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm had revenue of $6.22 billion during the quarter, compared to analysts' expectations of $6.05 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Analysts predict that CarMax, Inc. will post 3.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on KMX shares. Royal Bank of Canada raised their price target on CarMax from $92.00 to $99.00 and gave the company an "overweight" rating in a research note on Thursday, December 19th. StockNews.com upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research note on Friday, December 20th. BNP Paribas upgraded CarMax to a "strong sell" rating in a research report on Friday, September 27th. Oppenheimer reissued an "outperform" rating and issued a $105.00 target price on shares of CarMax in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their price target on CarMax from $70.00 to $72.00 and gave the stock an "underweight" rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $85.17.

Insider Transactions at CarMax

In related news, CEO William D. Nash sold 120,513 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the sale, the chief executive officer now owns 181,683 shares of the company's stock, valued at approximately $15,123,292.92. The trade was a 39.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mohammad Shamim sold 10,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 11,738 shares of the company's stock, valued at approximately $983,292.26. This trade represents a 46.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 170,758 shares of company stock valued at $14,273,065. 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.