Raymond James Financial Services Advisors Inc. Raises Stock Position in CarMax, Inc. (NYSE:KMX)

Raymond James Financial Services Advisors Inc. grew its position in CarMax, Inc. (NYSE:KMX - Free Report) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233,866 shares of the company's stock after purchasing an additional 27,122 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.15% of CarMax worth $17,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of CarMax during the fourth quarter valued at $288,278,000. Morningstar Investment Services LLC raised its stake in shares of CarMax by 95.4% in the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company's stock worth $211,516,000 after purchasing an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of CarMax by 1,327.3% in the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company's stock worth $89,070,000 after purchasing an additional 951,558 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in CarMax by 3,094.0% in the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company's stock valued at $51,949,000 after buying an additional 577,685 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in CarMax by 5,711.9% during the 4th quarter. Verition Fund Management LLC now owns 427,176 shares of the company's stock worth $32,781,000 after buying an additional 419,826 shares during the last quarter.

Insiders Place Their Bets

In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of the firm's stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the transaction, the senior vice president now directly owns 995 shares of the company's stock, valued at approximately $72,097.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Jon G. Daniels sold 1,231 shares of the firm's stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the sale, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The disclosure for this sale can be found here. Insiders have sold a total of 185,243 shares of company stock valued at $14,893,042 in the last 90 days. 1.66% of the stock is owned by insiders.

CarMax Price Performance

Shares of KMX stock traded down $0.37 on Thursday, reaching $82.12. 653,453 shares of the company were exchanged, compared to its average volume of 1,936,964. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 1.66 and a beta of 1.69. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The business has a 50-day moving average price of $76.81 and a 200 day moving average price of $75.49. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50.

CarMax (NYSE:KMX - Get Free Report) last announced its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business had revenue of $7.11 billion during the quarter, compared to analysts' expectations of $7.16 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The business's revenue was down 7.5% compared to the same quarter last year. Equities research analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KMX has been the topic of a number of research reports. Truist Financial increased their price objective on shares of CarMax from $66.00 to $70.00 and gave the stock a "hold" rating in a research note on Monday, June 24th. Morgan Stanley reissued an "overweight" rating and issued a $80.00 price objective on shares of CarMax in a report on Friday, June 21st. Argus raised CarMax to a "hold" rating in a report on Tuesday, June 25th. Wedbush reissued an "outperform" rating and issued a $95.00 price target on shares of CarMax in a report on Friday, August 16th. Finally, Royal Bank of Canada upped their price objective on CarMax from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $76.25.

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.