National Bank of Canada FI Raises Stake in CarMax, Inc. (NYSE:KMX)

National Bank of Canada FI boosted its position in CarMax, Inc. (NYSE:KMX - Free Report) by 21.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,383 shares of the company's stock after buying an additional 8,090 shares during the quarter. National Bank of Canada FI's holdings in CarMax were worth $3,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of KMX. Markel Group Inc. boosted its stake in shares of CarMax by 10.5% in the 2nd quarter. Markel Group Inc. now owns 136,500 shares of the company's stock valued at $10,011,000 after purchasing an additional 13,000 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of CarMax by 16.7% during the second quarter. Foundations Investment Advisors LLC now owns 11,882 shares of the company's stock valued at $871,000 after buying an additional 1,702 shares during the last quarter. FSB Premier Wealth Management Inc. increased its holdings in shares of CarMax by 89.5% in the second quarter. FSB Premier Wealth Management Inc. now owns 10,265 shares of the company's stock worth $753,000 after buying an additional 4,849 shares during the period. Allegheny Financial Group LTD lifted its stake in shares of CarMax by 4.1% in the 2nd quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company's stock valued at $264,000 after acquiring an additional 143 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in shares of CarMax by 10.3% in the 2nd quarter. Resonant Capital Advisors LLC now owns 5,573 shares of the company's stock valued at $409,000 after acquiring an additional 521 shares during the last quarter.

CarMax Stock Down 3.2 %

Shares of NYSE:KMX traded down $2.52 during midday trading on Wednesday, reaching $75.20. The company's stock had a trading volume of 1,938,481 shares, compared to its average volume of 1,902,416. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The firm has a 50 day moving average of $79.88 and a 200-day moving average of $76.51. The firm has a market capitalization of $11.74 billion, a P/E ratio of 29.38, a PEG ratio of 1.62 and a beta of 1.69. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22.

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

Insider Buying and Selling at CarMax

In other CarMax news, CEO William D. Nash sold 120,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares of the company's stock, valued at approximately $965,567.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,243 shares of company stock worth $14,893,042. 1.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KMX shares. Evercore ISI boosted their price objective on CarMax from $68.00 to $72.00 and gave the company an "in-line" rating in a research report on Tuesday, July 16th. Mizuho lowered their price objective on shares of CarMax from $75.00 to $72.00 and set a "neutral" rating for the company in a research note on Tuesday, June 18th. StockNews.com raised CarMax to a "sell" rating in a research note on Friday, July 26th. Oppenheimer reaffirmed an "outperform" rating and set a $105.00 price target on shares of CarMax in a research report on Monday, June 24th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $76.25.

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.