Lakewood Asset Management LLC Grows Holdings in CarMax, Inc. (NYSE:KMX)

Lakewood Asset Management LLC increased its position in shares of CarMax, Inc. (NYSE:KMX) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,941 shares of the company’s stock after purchasing an additional 273 shares during the quarter. CarMax makes up about 1.2% of Lakewood Asset Management LLC’s holdings, making the stock its 23rd biggest position. Lakewood Asset Management LLC’s holdings in CarMax were worth $1,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KMX. Mirae Asset Global Investments Co. Ltd. raised its position in CarMax by 3.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,725 shares of the company’s stock worth $2,818,000 after acquiring an additional 1,343 shares during the period. International Assets Investment Management LLC bought a new stake in shares of CarMax in the fourth quarter valued at approximately $9,420,000. Sequoia Financial Advisors LLC bought a new stake in shares of CarMax in the fourth quarter valued at approximately $232,000. Cerity Partners LLC raised its position in shares of CarMax by 19.1% in the fourth quarter. Cerity Partners LLC now owns 8,333 shares of the company’s stock valued at $640,000 after purchasing an additional 1,336 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of CarMax in the fourth quarter valued at approximately $133,000.

CarMax Price Performance

KMX stock traded up $0.02 during midday trading on Friday, reaching $79.86. The company had a trading volume of 1,114,218 shares, compared to its average volume of 1,963,452. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The company has a market capitalization of $12.46 billion, a P/E ratio of 31.20, a P/E/G ratio of 1.66 and a beta of 1.69. The firm has a 50-day moving average price of $76.11 and a 200-day moving average price of $75.30.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The firm’s revenue was down 7.5% on a year-over-year basis. On average, research analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Jon G. Daniels sold 1,231 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the sale, the senior vice president now directly owns 995 shares in the company, valued at approximately $72,097.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the transaction, the senior vice president now directly owns 995 shares in the company, valued at approximately $72,097.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,243 shares of company stock valued at $14,893,042. Corporate insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

KMX has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research report on Friday. Mizuho lowered their price target on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Needham & Company LLC lowered their price target on shares of CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Evercore ISI boosted their price objective on shares of CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research note on Tuesday, July 16th. Finally, Argus raised shares of CarMax to a “hold” rating in a research note on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.25.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.