First Pacific Advisors LP Raises Holdings in CarMax, Inc. (NYSE:KMX)

First Pacific Advisors LP boosted its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 2.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,386,210 shares of the company's stock after purchasing an additional 47,184 shares during the quarter. CarMax comprises approximately 2.4% of First Pacific Advisors LP's portfolio, making the stock its 16th biggest position. First Pacific Advisors LP owned approximately 1.53% of CarMax worth $175,005,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KMX. Baker Tilly Wealth Management LLC boosted its holdings in shares of CarMax by 4.6% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company's stock valued at $217,000 after buying an additional 130 shares in the last quarter. GAMMA Investing LLC lifted its position in CarMax by 6.5% in the first quarter. GAMMA Investing LLC now owns 2,156 shares of the company's stock valued at $188,000 after acquiring an additional 131 shares during the last quarter. Peoples Bank KS boosted its stake in CarMax by 10.0% in the second quarter. Peoples Bank KS now owns 1,479 shares of the company's stock valued at $108,000 after acquiring an additional 135 shares in the last quarter. Allegheny Financial Group LTD grew its holdings in shares of CarMax by 4.1% during the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company's stock worth $264,000 after purchasing an additional 143 shares during the last quarter. Finally, Spire Wealth Management increased its position in shares of CarMax by 8.3% during the fourth quarter. Spire Wealth Management now owns 1,908 shares of the company's stock worth $146,000 after purchasing an additional 147 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and issued a $95.00 target price on shares of CarMax in a research report on Friday, August 16th. Royal Bank of Canada raised their target price on shares of CarMax from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, June 24th. Oppenheimer reiterated an "outperform" rating and issued a $105.00 price target on shares of CarMax in a research report on Monday, June 24th. Argus raised shares of CarMax to a "hold" rating in a research report on Tuesday, June 25th. Finally, StockNews.com upgraded shares of CarMax to a "sell" rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CarMax presently has an average rating of "Hold" and an average target price of $76.25.

Insiders Place Their Bets

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

CarMax Stock Performance

KMX traded down $0.94 during trading on Thursday, reaching $80.91. The company's stock had a trading volume of 1,245,592 shares, compared to its average volume of 1,903,395. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. The company's fifty day moving average price is $79.33 and its 200-day moving average price is $76.26. CarMax, Inc. has a 52-week low of $59.66 and a 52-week high of $88.22. The company has a market capitalization of $12.63 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.72 and a beta of 1.69.

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

About CarMax

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.