CIBC World Markets Inc. decreased its position in shares of CarMax, Inc (NYSE:KMX) by 44.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,708 shares of the company’s stock after selling 17,167 shares during the quarter. CIBC World Markets Inc.’s holdings in CarMax were worth $1,621,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Argent Trust Co lifted its stake in CarMax by 14.6% in the second quarter. Argent Trust Co now owns 5,783 shares of the company’s stock valued at $421,000 after buying an additional 737 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in CarMax by 57.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after buying an additional 750 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in CarMax by 7.1% in the second quarter. First Republic Investment Management Inc. now owns 12,448 shares of the company’s stock valued at $907,000 after buying an additional 829 shares in the last quarter. Meadow Creek Investment Management LLC lifted its stake in CarMax by 12.2% in the second quarter. Meadow Creek Investment Management LLC now owns 7,898 shares of the company’s stock valued at $575,000 after buying an additional 858 shares in the last quarter. Finally, Gagnon Securities LLC lifted its stake in CarMax by 4.2% in the second quarter. Gagnon Securities LLC now owns 24,199 shares of the company’s stock valued at $1,763,000 after buying an additional 967 shares in the last quarter.
KMX has been the topic of a number of research reports. 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. Wolfe Research initiated coverage on shares of CarMax in a research note on Tuesday, October 2nd. They issued a “peer perform” rating on the stock. Robert W. Baird raised shares of CarMax from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 27th. Zacks Investment Research lowered shares of CarMax from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Morgan Stanley set a $89.00 price objective on shares of CarMax and gave the company a “buy” rating in a report on Wednesday, August 29th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. CarMax has a consensus rating of “Buy” and a consensus price target of $83.93.
In related news, SVP Mohammad Shamim sold 34,142 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $74.16, for a total transaction of $2,531,970.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jon G. Daniels sold 16,325 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 16,325 shares in the company, valued at $1,157,116. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by insiders.
NYSE KMX opened at $66.07 on Monday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.52 and a current ratio of 2.35. CarMax, Inc has a 12-month low of $57.05 and a 12-month high of $81.67. The company has a market capitalization of $11.54 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 0.96 and a beta of 1.62.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, September 26th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.02. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.65 billion. CarMax had a net margin of 4.12% and a return on equity of 22.26%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. On average, analysts predict that CarMax, Inc will post 4.64 EPS for the current fiscal year.
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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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