CarMax, Inc. $KMX Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. boosted its stake in shares of CarMax, Inc. (NYSE:KMX) by 28.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,121 shares of the company’s stock after purchasing an additional 34,211 shares during the period. Bessemer Group Inc.’s holdings in CarMax were worth $6,491,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after acquiring an additional 173 shares during the period. Jones Financial Companies Lllp boosted its position in CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after purchasing an additional 161 shares during the period. Empowered Funds LLC increased its holdings in CarMax by 12.5% in the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock valued at $411,000 after purchasing an additional 585 shares in the last quarter. Intech Investment Management LLC increased its holdings in CarMax by 61.7% in the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after purchasing an additional 7,307 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in CarMax in the first quarter valued at about $727,000.

CarMax Trading Up 0.1%

Shares of NYSE KMX opened at $57.37 on Monday. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The stock’s 50 day moving average price is $47.73 and its two-hundred day moving average price is $44.57. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $63.74. The stock has a market capitalization of $8.14 billion, a P/E ratio of 37.50, a PEG ratio of 1.85 and a beta of 1.17.

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

Analyst Ratings Changes

KMX has been the topic of several recent research reports. Argus raised CarMax to a “hold” rating in a research report on Thursday, April 16th. Mizuho increased their price objective on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” 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 company an “underweight” rating in a research note on Thursday, June 18th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price on the stock in a research report on Thursday, June 18th. Finally, Bank of America boosted their target price on shares of CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $47.73.

Insiders Place Their Bets

In related news, Director Peter J. Bensen bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the transaction, the director directly owned 24,796 shares of the company’s stock, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keith Barr acquired 9,400 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the purchase, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 13,900 shares of company stock worth $735,574. Insiders own 1.01% of the company’s stock.

CarMax Profile

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.