Semmax Financial Advisors Inc. Increases Position in CarMax, Inc (NYSE:KMX)

Semmax Financial Advisors Inc. boosted its holdings in CarMax, Inc (NYSE:KMX) by 98.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,570 shares of the company’s stock after purchasing an additional 1,767 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in CarMax were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wetherby Asset Management Inc. grew its holdings in shares of CarMax by 3.6% during the second quarter. Wetherby Asset Management Inc. now owns 3,366 shares of the company’s stock valued at $292,000 after buying an additional 118 shares during the last quarter. Beacon Financial Group grew its holdings in shares of CarMax by 2.3% during the second quarter. Beacon Financial Group now owns 5,386 shares of the company’s stock valued at $468,000 after buying an additional 119 shares during the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. grew its holdings in shares of CarMax by 1.4% during the second quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 9,700 shares of the company’s stock valued at $842,000 after buying an additional 130 shares during the last quarter. First National Bank of South Miami grew its holdings in shares of CarMax by 4.4% during the first quarter. First National Bank of South Miami now owns 3,267 shares of the company’s stock valued at $228,000 after buying an additional 138 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of CarMax by 0.3% during the first quarter. First Trust Advisors LP now owns 65,476 shares of the company’s stock valued at $4,570,000 after buying an additional 167 shares during the last quarter.

KMX traded down $2.89 during trading on Friday, hitting $80.83. The company’s stock had a trading volume of 1,535,655 shares, compared to its average volume of 1,289,463. The company has a quick ratio of 0.49, a current ratio of 2.21 and a debt-to-equity ratio of 4.20. CarMax, Inc has a one year low of $55.24 and a one year high of $92.01. The firm has a market cap of $13.86 billion, a PE ratio of 16.87, a P/E/G ratio of 1.27 and a beta of 1.20. The business’s 50 day simple moving average is $86.41 and its 200-day simple moving average is $75.86.

CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, June 21st. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.10. CarMax had a net margin of 4.64% and a return on equity of 25.37%. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the firm earned $1.33 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts expect that CarMax, Inc will post 5.26 EPS for the current fiscal year.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Monday, June 10th. Guggenheim increased their price objective on shares of CarMax from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. They noted that the move was a valuation call. Northcoast Research downgraded shares of CarMax from a “buy” rating to a “neutral” rating and set a $86.50 price objective on the stock. in a research report on Friday, June 28th. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Bank of America increased their price objective on shares of CarMax from $95.00 to $112.00 in a research report on Monday, June 24th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $93.81.

In other CarMax news, SVP Mohammad Shamim sold 13,894 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $90.39, for a total value of $1,255,878.66. Following the transaction, the senior vice president now directly owns 16,718 shares in the company, valued at $1,511,140.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William D. Nash sold 86,762 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $83.53, for a total transaction of $7,247,229.86. Following the completion of the sale, the chief executive officer now directly owns 173,546 shares of the company’s stock, valued at $14,496,297.38. The disclosure for this sale can be found here. Insiders sold 377,047 shares of company stock worth $31,898,938 over the last quarter. Insiders own 2.09% of the company’s stock.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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