Essex Financial Services Inc. Takes Position in CarMax, Inc. (NYSE:KMX)

Essex Financial Services Inc. bought a new stake in CarMax, Inc. (NYSE:KMX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,555 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of CarMax by 6.4% in the 4th quarter. US Bancorp DE now owns 31,298 shares of the company’s stock valued at $2,958,000 after buying an additional 1,888 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of CarMax during the fourth quarter worth $1,413,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of CarMax by 13.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,006 shares of the company’s stock worth $7,032,000 after purchasing an additional 6,151 shares during the period. Fiera Capital Corp acquired a new stake in shares of CarMax during the fourth quarter worth $43,427,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of CarMax by 8.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 27,208 shares of the company’s stock worth $2,570,000 after purchasing an additional 2,133 shares during the period. 93.26% of the stock is owned by institutional investors.

In related news, Director Thomas J. Folliard sold 185,120 shares of the company’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $131.47, for a total transaction of $24,337,726.40. Following the sale, the director now owns 392,076 shares in the company, valued at $51,546,231.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.76% of the company’s stock.

A number of equities research analysts recently commented on the company. Robert W. Baird lifted their price objective on CarMax from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, April 5th. Stephens lifted their price objective on CarMax from $130.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, April 5th. Wedbush reaffirmed a “neutral” rating and set a $130.00 price objective (down from $155.00) on shares of CarMax in a research note on Tuesday, May 25th. Oppenheimer lifted their price objective on CarMax from $130.00 to $153.00 and gave the stock an “outperform” rating in a research note on Friday, April 9th. Finally, Seaport Global Securities cut CarMax from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $123.50.

Shares of CarMax stock opened at $115.00 on Friday. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. The firm has a 50-day moving average price of $124.32. CarMax, Inc. has a one year low of $84.70 and a one year high of $138.77. The company has a current ratio of 2.42, a quick ratio of 0.56 and a debt-to-equity ratio of 3.35.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Wednesday, March 31st. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.17 billion. CarMax had a return on equity of 19.42% and a net margin of 3.94%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. On average, analysts expect that CarMax, Inc. will post 5.84 earnings per share for the current fiscal year.

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; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through whole auctions.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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