Thornburg Investment Management Inc. Boosts Stake in CarMax, Inc (KMX)

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Thornburg Investment Management Inc. lifted its position in shares of CarMax, Inc (NYSE:KMX) by 31.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 450,033 shares of the company’s stock after buying an additional 108,219 shares during the quarter. Thornburg Investment Management Inc.’s holdings in CarMax were worth $31,412,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quantamental Technologies LLC bought a new position in shares of CarMax during the 4th quarter worth $27,000. Citizens Financial Group Inc RI bought a new position in shares of CarMax during the 4th quarter worth $33,000. Liberty Wealth Management LLC bought a new position in shares of CarMax during the 1st quarter worth $39,000. Private Capital Group LLC grew its stake in shares of CarMax by 35.3% during the 4th quarter. Private Capital Group LLC now owns 721 shares of the company’s stock worth $45,000 after acquiring an additional 188 shares during the period. Finally, Semmax Financial Advisors Inc. bought a new position in shares of CarMax during the 4th quarter worth $48,000.

Several research analysts have recently weighed in on KMX shares. Wedbush reiterated a “neutral” rating on shares of CarMax in a research note on Friday. Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Buckingham Research raised their target price on CarMax from $76.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $83.00 to $93.00 in a research note on Monday, April 1st. Finally, ValuEngine upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. CarMax presently has an average rating of “Buy” and an average price target of $82.36.

Shares of NYSE KMX traded up $1.01 during trading hours on Friday, reaching $76.95. 18,125 shares of the stock traded hands, compared to its average volume of 1,252,118. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.22 and a beta of 1.31. The company has a current ratio of 2.45, a quick ratio of 0.53 and a debt-to-equity ratio of 4.11. CarMax, Inc has a 52-week low of $55.24 and a 52-week high of $81.67.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, March 29th. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.09. The company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.36 billion. CarMax had a return on equity of 24.67% and a net margin of 4.64%. CarMax’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. On average, analysts forecast that CarMax, Inc will post 5.13 EPS for the current fiscal year.

In related news, Director Thomas J. Folliard sold 360,006 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $71.18, for a total transaction of $25,625,227.08. Following the transaction, the director now directly owns 511,879 shares of the company’s stock, valued at approximately $36,435,547.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric M. Margolin sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $77.74, for a total value of $1,554,800.00. Following the transaction, the executive vice president now directly owns 35,160 shares in the company, valued at $2,733,338.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,655 shares of company stock worth $27,437,638. 2.09% of the stock is currently owned by insiders.

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CarMax Profile

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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