First Foundation Advisors increased its stake in shares of CarMax, Inc (NYSE:KMX) by 35.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,010 shares of the company’s stock after buying an additional 13,759 shares during the period. First Foundation Advisors’ holdings in CarMax were worth $4,603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of KMX. Geode Capital Management LLC lifted its stake in CarMax by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 2,190,864 shares of the company’s stock valued at $137,181,000 after acquiring an additional 140,198 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in CarMax by 84.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 6,252 shares of the company’s stock worth $437,000 after acquiring an additional 2,856 shares during the period. Victory Capital Management Inc. increased its position in CarMax by 32.6% during the first quarter. Victory Capital Management Inc. now owns 55,727 shares of the company’s stock worth $3,890,000 after acquiring an additional 13,693 shares during the period. First Allied Advisory Services Inc. bought a new position in CarMax during the first quarter worth $275,000. Finally, First Mercantile Trust Co. increased its position in CarMax by 180.6% during the first quarter. First Mercantile Trust Co. now owns 954 shares of the company’s stock worth $67,000 after acquiring an additional 614 shares during the period.

NYSE KMX traded down $1.06 on Wednesday, hitting $85.02. 20,729 shares of the company were exchanged, compared to its average volume of 1,214,492. The firm has a 50 day moving average of $84.69 and a two-hundred day moving average of $78.64. The company has a market cap of $14.36 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.32 and a beta of 1.20. The company has a current ratio of 2.21, a quick ratio of 0.49 and a debt-to-equity ratio of 4.20. CarMax, Inc has a 1-year low of $55.24 and a 1-year high of $92.01.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 21st. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.10. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.17 billion. CarMax had a net margin of 4.64% and a return on equity of 25.37%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Research analysts anticipate that CarMax, Inc will post 5.25 EPS for the current fiscal year.

A number of equities analysts recently issued reports on KMX shares. Northcoast Research lowered shares of CarMax from a “buy” rating to a “neutral” rating and set a $86.50 target price on the stock. in a research report on Friday, June 28th. Robert W. Baird boosted their target price on shares of CarMax from $80.00 to $99.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Oppenheimer boosted their target price on shares of CarMax from $88.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Morgan Stanley dropped their target price on shares of CarMax from $99.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Credit Suisse Group set a $90.00 price target on shares of CarMax and gave the company an “outperform” rating in a report on Monday, June 17th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. CarMax currently has a consensus rating of “Buy” and a consensus target price of $94.12.

In other news, SVP Mohammad Shamim sold 15,782 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $83.88, for a total value of $1,323,794.16. Following the completion of the sale, the senior vice president now directly owns 18,606 shares of the company’s stock, valued at approximately $1,560,671.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas W. Reedy, Jr. sold 77,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $83.20, for a total value of $6,406,400.00. Following the completion of the sale, the chief financial officer now directly owns 138,520 shares of the company’s stock, valued at $11,524,864. The disclosure for this sale can be found here. In the last quarter, insiders have sold 377,047 shares of company stock worth $31,898,938. 2.09% of the stock is owned by corporate insiders.

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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