CarMax, Inc. (NYSE:KMX) Shares Acquired by Nexus Investment Management ULC

Nexus Investment Management ULC lifted its position in shares of CarMax, Inc. (NYSE:KMX) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,705 shares of the company’s stock after purchasing an additional 3,580 shares during the period. CarMax comprises about 2.9% of Nexus Investment Management ULC’s holdings, making the stock its 15th largest position. Nexus Investment Management ULC owned 0.24% of CarMax worth $29,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KMX. First Community Trust NA purchased a new position in shares of CarMax during the second quarter worth about $29,000. Quarry LP grew its holdings in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares during the last quarter. Studio Investment Management LLC grew its holdings in shares of CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in CarMax in the 1st quarter valued at approximately $55,000.

CarMax Trading Up 0.9 %

NYSE:KMX opened at $73.67 on Wednesday. The business’s 50-day moving average is $78.03 and its two-hundred day moving average is $75.39. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The firm has a market capitalization of $11.50 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. Research analysts predict that CarMax, Inc. will post 2.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Argus upgraded CarMax to a “hold” rating in a research report on Tuesday, June 25th. Morgan Stanley restated an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research report on Tuesday, September 17th. Evercore ISI cut their price target on CarMax from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Finally, BNP Paribas upgraded CarMax to a “strong sell” rating in a report on Friday, September 27th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.45.

Insider Buying and Selling

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value 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 $965,567.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value 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 $965,567.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now directly owns 15,609 shares in the company, valued at approximately $1,249,032.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by corporate insiders.

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.