Cornerstone Advisors Inc. Holds Stake in CarMax Inc (KMX)

Cornerstone Advisors Inc. maintained its position in CarMax Inc (NYSE:KMX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,490 shares of the company’s stock at the end of the second quarter. Cornerstone Advisors Inc.’s holdings in CarMax were worth $157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. increased its position in CarMax by 2.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,076 shares of the company’s stock worth $281,000 after buying an additional 131 shares during the period. Candriam Luxembourg S.C.A. increased its position in CarMax by 28.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 14,118 shares of the company’s stock worth $836,000 after buying an additional 3,131 shares during the period. Quantitative Systematic Strategies LLC increased its position in CarMax by 35.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 35,213 shares of the company’s stock worth $2,085,000 after buying an additional 9,221 shares during the period. Bank of Montreal Can increased its position in CarMax by 1.4% in the first quarter. Bank of Montreal Can now owns 57,046 shares of the company’s stock worth $3,378,000 after buying an additional 760 shares during the period. Finally, National Pension Service increased its position in CarMax by 2.1% in the first quarter. National Pension Service now owns 193,545 shares of the company’s stock worth $11,624,000 after buying an additional 3,991 shares during the period.

CarMax Inc (NYSE KMX) opened at 65.72 on Monday. The stock has a market capitalization of $12.04 billion, a P/E ratio of 18.87 and a beta of 1.34. The firm’s 50-day moving average is $63.73 and its 200 day moving average is $62.81. CarMax Inc has a 12-month low of $47.50 and a 12-month high of $69.11.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the company earned $0.90 EPS. CarMax’s revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that CarMax Inc will post $3.70 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This news story was posted by [[site]] and is the sole property of of [[site]]. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at [[permalink]].

KMX has been the topic of several research reports. Oppenheimer Holdings, Inc. set a $72.00 price objective on shares of CarMax and gave the stock a “buy” rating in a research report on Monday, June 19th. Credit Suisse Group set a $75.00 price objective on shares of CarMax and gave the stock a “buy” rating in a research report on Monday, April 10th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $74.00 price objective (up from $72.00) on shares of CarMax in a research report on Thursday, June 22nd. Deutsche Bank AG reissued a “buy” rating and set a $73.00 price objective (up from $71.00) on shares of CarMax in a research report on Thursday, June 22nd. Finally, Bank of America Corporation reissued a “buy” rating and set a $82.00 price objective (up from $80.00) on shares of CarMax in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. CarMax presently has a consensus rating of “Buy” and a consensus target price of $69.00.

In other CarMax news, SVP Mohammad Shamim sold 13,938 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $66.08, for a total transaction of $921,023.04. Following the completion of the sale, the senior vice president now directly owns 9,218 shares of the company’s stock, valued at $609,125.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edwin J. Hill sold 35,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $64.88, for a total transaction of $2,270,800.00. Following the sale, the executive vice president now directly owns 39,792 shares of the company’s stock, valued at $2,581,704.96. The disclosure for this sale can be found here. Insiders sold a total of 188,515 shares of company stock valued at $12,085,019 over the last three months. 1.90% of the stock is owned by corporate insiders.

CarMax Company Profile

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.