Investment Research & Advisory Group Inc. Has $1.97 Million Position in CarMax, Inc. (NYSE:KMX)

Investment Research & Advisory Group Inc. increased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 15.5% during the first quarter, Holdings Channel reports. The fund owned 22,577 shares of the company’s stock after acquiring an additional 3,027 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in CarMax were worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in KMX. Dark Forest Capital Management LP acquired a new position in shares of CarMax during the 3rd quarter worth approximately $542,000. Mariner LLC increased its holdings in shares of CarMax by 7.9% during the 3rd quarter. Mariner LLC now owns 14,478 shares of the company’s stock worth $1,024,000 after acquiring an additional 1,062 shares during the last quarter. Northern Trust Corp boosted its stake in CarMax by 3.2% in the 3rd quarter. Northern Trust Corp now owns 1,570,993 shares of the company’s stock valued at $111,116,000 after purchasing an additional 48,879 shares during the period. Bank of Nova Scotia boosted its stake in CarMax by 18.6% in the 3rd quarter. Bank of Nova Scotia now owns 15,829 shares of the company’s stock valued at $1,120,000 after purchasing an additional 2,488 shares during the period. Finally, Teza Capital Management LLC bought a new stake in CarMax in the 3rd quarter valued at $668,000.

Insider Buying and Selling

In other news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the sale, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at $485,110.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $72.46, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the sale, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at $485,110.81. The disclosure for this sale can be found here. 1.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of CarMax from $66.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, June 24th. Royal Bank of Canada upped their price objective on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Evercore ISI decreased their target price on shares of CarMax from $73.00 to $68.00 and set an “in-line” rating for the company in a research report on Thursday, June 20th. Mizuho decreased their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Monday, April 15th. Three investment 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.50.

CarMax Trading Up 0.0 %

KMX stock traded up $0.01 during midday trading on Friday, hitting $73.34. The company had a trading volume of 2,223,377 shares, compared to its average volume of 2,216,369. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The stock’s 50 day moving average price is $70.66 and its 200 day moving average price is $73.99. The stock has a market cap of $11.54 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.45 and a beta of 1.69.

CarMax (NYSE:KMX) last posted its earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The business’s revenue was down 7.5% compared to the same quarter last year. As a group, equities research analysts expect that CarMax, Inc. will post 3.03 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.