Pinnacle Financial Partners Inc. Acquires 2,654 Shares of CarMax, Inc (NYSE:KMX)

Pinnacle Financial Partners Inc. boosted its holdings in CarMax, Inc (NYSE:KMX) by 41.5% during the second quarter, HoldingsChannel.com reports. The fund owned 9,055 shares of the company’s stock after purchasing an additional 2,654 shares during the period. Pinnacle Financial Partners Inc.’s holdings in CarMax were worth $786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KMX. AdvisorNet Financial Inc lifted its stake in shares of CarMax by 86.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 398 shares of the company’s stock valued at $35,000 after purchasing an additional 185 shares during the period. Hanson & Doremus Investment Management purchased a new position in shares of CarMax in the second quarter valued at $51,000. FNY Investment Advisers LLC increased its holdings in shares of CarMax by 6,633.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 588 shares of the company’s stock valued at $51,000 after acquiring an additional 597 shares during the last quarter. Carroll Financial Associates Inc. raised its position in shares of CarMax by 181.1% during the 2nd quarter. Carroll Financial Associates Inc. now owns 759 shares of the company’s stock valued at $65,000 after acquiring an additional 489 shares in the last quarter. Finally, Manchester Financial Inc. bought a new position in CarMax during the second quarter worth $65,000.

A number of research analysts have recently issued reports on KMX shares. Guggenheim raised their price target on shares of CarMax from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. They noted that the move was a valuation call. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Monday, June 10th. Northcoast Research cut CarMax from a “buy” rating to a “neutral” rating and set a $86.50 price target for the company. in a research note on Friday, June 28th. Royal Bank of Canada lifted their target price on CarMax from $86.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, June 19th. Finally, Wedbush upped their price target on shares of CarMax from $65.00 to $80.00 and gave the company an “average” rating in a report on Monday, June 24th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $94.12.

In other CarMax news, CEO William D. Nash sold 86,762 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $83.53, for a total transaction of $7,247,229.86. Following the sale, the chief executive officer now directly owns 173,546 shares of the company’s stock, valued at $14,496,297.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Edwin J. Hill sold 4,792 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $87.49, for a total transaction of $419,252.08. Following the sale, the chief operating officer now directly owns 3,778 shares of the company’s stock, valued at approximately $330,537.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 377,047 shares of company stock worth $31,898,938. Corporate insiders own 2.09% of the company’s stock.

Shares of NYSE:KMX traded down $1.89 on Wednesday, reaching $85.41. 52,185 shares of the company traded hands, compared to its average volume of 1,162,608. The company has a debt-to-equity ratio of 4.20, a current ratio of 2.21 and a quick ratio of 0.49. CarMax, Inc has a fifty-two week low of $55.24 and a fifty-two week high of $92.01. The stock has a market capitalization of $14.34 billion, a PE ratio of 17.84, a P/E/G ratio of 1.31 and a beta of 1.20. The company’s 50 day moving average is $85.10 and its 200-day moving average is $77.87.

CarMax (NYSE:KMX) last announced its earnings results on Friday, June 21st. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.10. CarMax had a net margin of 4.64% and a return on equity of 25.37%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. CarMax’s revenue was up 12.0% compared to the same quarter last year. As a group, analysts expect that CarMax, Inc will post 5.26 EPS for the current 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; 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.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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