Commerce Bank Buys 1,732 Shares of CarMax, Inc (NYSE:KMX)

Commerce Bank increased its stake in shares of CarMax, Inc (NYSE:KMX) by 34.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,757 shares of the company’s stock after purchasing an additional 1,732 shares during the quarter. Commerce Bank’s holdings in CarMax were worth $363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMX. Madison Asset Management LLC bought a new position in shares of CarMax during the 4th quarter valued at approximately $136,504,000. Norges Bank bought a new position in shares of CarMax during the 4th quarter valued at approximately $118,534,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of CarMax by 56.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 985,024 shares of the company’s stock valued at $53,024,000 after purchasing an additional 355,491 shares during the last quarter. Chilton Investment Co. LLC boosted its holdings in CarMax by 311.5% during the 1st quarter. Chilton Investment Co. LLC now owns 454,201 shares of the company’s stock valued at $24,450,000 after acquiring an additional 343,837 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in CarMax by 11.3% during the 4th quarter. Janus Henderson Group PLC now owns 2,526,270 shares of the company’s stock valued at $221,479,000 after acquiring an additional 256,851 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KMX stock opened at $88.68 on Friday. The stock has a fifty day simple moving average of $72.25 and a two-hundred day simple moving average of $83.82. CarMax, Inc has a twelve month low of $37.59 and a twelve month high of $103.18. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 2.90 and a beta of 1.67. The company has a current ratio of 2.39, a quick ratio of 0.53 and a debt-to-equity ratio of 4.08.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, April 2nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.17. CarMax had a return on equity of 24.46% and a net margin of 4.37%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same period in the prior year, the company posted $1.13 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts predict that CarMax, Inc will post 2.68 EPS for the current fiscal year.

A number of equities analysts recently issued reports on KMX shares. Morgan Stanley dropped their price objective on CarMax from $112.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, March 30th. Cfra dropped their price objective on CarMax from $115.00 to $75.00 and set a “strong-buy” rating for the company in a report on Thursday, April 2nd. TheStreet cut CarMax from a “b-” rating to a “c+” rating in a report on Friday, March 13th. Oppenheimer started coverage on CarMax in a report on Friday, April 24th. They set a “buy” rating and a $87.00 price objective for the company. Finally, Wedbush upgraded CarMax from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $70.00 to $90.00 in a report on Tuesday, May 12th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $90.25.

In other CarMax news, Director Shira Goodman bought 1,550 shares of CarMax stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average cost of $63.91 per share, with a total value of $99,060.50. Following the transaction, the director now directly owns 26,439 shares of the company’s stock, valued at approximately $1,689,716.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.09% of the company’s stock.

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.

Featured Story: What Is An Exchange-Traded Fund (ETF)?

Want to see what other hedge funds are holding KMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarMax, Inc (NYSE:KMX).