Gabelli Funds LLC Purchases Shares of 71,700 CarMax, Inc. $KMX

by · The Markets Daily

Gabelli Funds LLC acquired a new position in shares of CarMax, Inc. (NYSE:KMX – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 71,700 shares of the company’s stock, valued at approximately $2,981,000.

Other institutional investors also recently made changes to their positions in the company. Freestone Capital Holdings LLC acquired a new stake in CarMax during the 4th quarter worth approximately $968,000. SG Americas Securities LLC grew its holdings in CarMax by 324.3% in the 4th quarter. SG Americas Securities LLC now owns 177,754 shares of the company’s stock valued at $6,868,000 after buying an additional 135,858 shares in the last quarter. Bessemer Group Inc. increased its position in CarMax by 28.1% during the 1st quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock worth $6,491,000 after buying an additional 34,211 shares during the period. HF Advisory Group LLC increased its position in CarMax by 347.7% during the 4th quarter. HF Advisory Group LLC now owns 162,544 shares of the company’s stock worth $6,281,000 after buying an additional 126,236 shares during the period. Finally, Convergence Investment Partners LLC acquired a new stake in shares of CarMax during the first quarter worth $1,688,000.

Analyst Ratings Changes

KMX has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. lifted their price objective on shares of CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research note on Thursday, June 18th. Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Mizuho boosted their price objective on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Finally, Royal Bank Of Canada increased their target price on shares of CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $49.33.

Check Out Our Latest Research Report on KMX

CarMax Trading Up 0.7%

Shares of KMX opened at $58.83 on Wednesday. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $62.56. The business’s fifty day moving average is $50.57 and its 200-day moving average is $45.45. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.71 and a beta of 1.17.

CarMax (NYSE:KMX – Get Free Report) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. CarMax’s revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that CarMax, Inc. will post 2.7 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, Director Peter J. Bensen bought 2,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $52.20 per share, with a total value of $130,500.00. Following the completion of the acquisition, the director owned 24,796 shares of the company’s stock, valued at $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Barr bought 9,400 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $53.01 per share, with a total value of $498,294.00. Following the acquisition, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. The trade was a 39.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 13,900 shares of company stock worth $735,574 over the last 90 days. Insiders own 1.01% of the company’s stock.

CarMax Company Profile

(Free Report)

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.

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