Landscape Capital Management L.L.C. Acquires New Shares in CarMax, Inc (NYSE:KMX)

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Landscape Capital Management L.L.C. acquired a new stake in shares of CarMax, Inc (NYSE:KMX) during the second quarter, according to its most recent filing with the SEC. The fund acquired 42,229 shares of the company’s stock, valued at approximately $3,667,000.

Other large investors also recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. increased its holdings in shares of CarMax by 3.6% in the second quarter. Wetherby Asset Management Inc. now owns 3,366 shares of the company’s stock worth $292,000 after purchasing an additional 118 shares during the last quarter. Beacon Financial Group raised its stake 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 acquiring an additional 119 shares in the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. raised its stake 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 acquiring an additional 130 shares in the last quarter. First National Bank of South Miami raised its stake 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 acquiring an additional 138 shares in the last quarter. Finally, First Trust Advisors LP raised its stake 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 acquiring an additional 167 shares in the last quarter.

KMX has been the subject of several research reports. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Monday, June 10th. Credit Suisse Group set a $90.00 target price on shares of CarMax and gave the company an “outperform” rating in a research note on Monday, June 17th. Bank of America upped their target price on shares of CarMax from $95.00 to $112.00 in a research note on Monday, June 24th. Guggenheim upped their target price on shares of CarMax from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. They noted that the move was a valuation call. Finally, Robert W. Baird upped their target price on shares of CarMax from $80.00 to $99.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $93.81.

In other CarMax news, EVP Eric M. Margolin sold 14,699 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $89.06, for a total transaction of $1,309,092.94. Following the transaction, the executive vice president now directly owns 31,166 shares in the company, valued at approximately $2,775,643.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mohammad Shamim sold 15,782 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $83.88, for a total transaction of $1,323,794.16. Following the transaction, the senior vice president now owns 18,606 shares in the company, valued at $1,560,671.28. The disclosure for this sale can be found here. Insiders have sold a total of 377,047 shares of company stock worth $31,898,938 over the last quarter. 2.09% of the stock is currently owned by insiders.

NYSE KMX traded up $0.50 during trading hours on Thursday, reaching $84.25. 44,529 shares of the company traded hands, compared to its average volume of 1,552,198. CarMax, Inc has a 12 month low of $55.24 and a 12 month high of $92.01. The company has a quick ratio of 0.49, a current ratio of 2.21 and a debt-to-equity ratio of 4.20. The stock has a market capitalization of $13.90 billion, a PE ratio of 17.60, a PEG ratio of 1.27 and a beta of 1.20. The stock has a 50 day simple moving average of $86.92.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, June 21st. The company reported $1.59 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the firm posted $1.33 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. Analysts forecast that CarMax, Inc will post 5.26 EPS for the current year.

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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