American International Group Inc. Has $5.26 Million Position in CarMax, Inc (KMX)

American International Group Inc. boosted its holdings in CarMax, Inc (NYSE:KMX) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,425 shares of the company’s stock after purchasing an additional 3,379 shares during the period. American International Group Inc.’s holdings in CarMax were worth $5,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KMX. Millennium Management LLC lifted its stake in CarMax by 4,279.2% in the second quarter. Millennium Management LLC now owns 488,592 shares of the company’s stock valued at $35,604,000 after acquiring an additional 477,435 shares during the last quarter. Chilton Investment Co. LLC lifted its stake in CarMax by 281.6% in the second quarter. Chilton Investment Co. LLC now owns 448,724 shares of the company’s stock valued at $32,699,000 after acquiring an additional 331,148 shares during the last quarter. Bain Capital Public Equity Management LLC acquired a new stake in CarMax in the second quarter valued at $19,795,000. Weitz Investment Management Inc. lifted its stake in CarMax by 46.6% in the second quarter. Weitz Investment Management Inc. now owns 593,150 shares of the company’s stock valued at $43,223,000 after acquiring an additional 188,415 shares during the last quarter. Finally, Giverny Capital Inc. lifted its stake in CarMax by 16.3% in the second quarter. Giverny Capital Inc. now owns 1,269,874 shares of the company’s stock valued at $92,536,000 after acquiring an additional 178,286 shares during the last quarter.

NYSE KMX opened at $64.52 on Friday. The company has a quick ratio of 0.52, a current ratio of 2.35 and a debt-to-equity ratio of 3.78. The stock has a market cap of $11.18 billion, a PE ratio of 17.44, a P/E/G ratio of 0.94 and a beta of 1.60. CarMax, Inc has a 52-week low of $57.05 and a 52-week high of $81.67.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.65 billion. CarMax had a net margin of 4.12% and a return on equity of 22.26%. CarMax’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. As a group, equities research analysts expect that CarMax, Inc will post 4.64 earnings per share for the current year.

A number of analysts have commented on KMX shares. Morgan Stanley set a $89.00 price target on shares of CarMax and gave the company a “buy” rating in a research note on Wednesday, August 29th. ValuEngine cut shares of CarMax from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Robert W. Baird upgraded shares of CarMax from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 27th. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Finally, Wedbush set a $87.00 price target on shares of CarMax and gave the company a “buy” rating in a research note on Thursday, September 27th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $83.93.

In other news, SVP Mohammad Shamim sold 34,142 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $74.16, for a total transaction of $2,531,970.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jon G. Daniels sold 16,325 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $70.88, for a total transaction of $1,157,116.00. Following the sale, the senior vice president now owns 16,325 shares of the company’s stock, valued at approximately $1,157,116. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.

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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.

Further Reading: Yield Curve

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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