Welch & Forbes LLC Sells 40,251 Shares of CarMax, Inc. $KMX

Welch & Forbes LLC reduced its position in shares of CarMax, Inc. (NYSE:KMX) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 818,220 shares of the company’s stock after selling 40,251 shares during the quarter. Welch & Forbes LLC’s holdings in CarMax were worth $36,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KMX. Jones Financial Companies Lllp boosted its holdings in shares of CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after buying an additional 161 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after acquiring an additional 173 shares during the period. WCM Investment Management LLC boosted its stake in shares of CarMax by 0.5% during the 2nd quarter. WCM Investment Management LLC now owns 38,991 shares of the company’s stock worth $2,597,000 after acquiring an additional 197 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of CarMax by 1.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,924 shares of the company’s stock worth $734,000 after acquiring an additional 198 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of CarMax by 0.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 31,245 shares of the company’s stock valued at $2,081,000 after acquiring an additional 206 shares during the period.

CarMax Stock Performance

NYSE KMX opened at $44.51 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $89.47. The business has a 50-day moving average price of $41.81 and a 200-day moving average price of $47.92. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.09 and a beta of 1.29.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 18th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The company had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the firm earned $0.81 EPS. The firm’s revenue was down 6.9% compared to the same quarter last year. As a group, equities research analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on KMX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of CarMax in a report on Friday, November 7th. Wedbush reduced their price target on CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Zacks Research raised CarMax from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Bank of America boosted their price objective on CarMax from $27.00 to $31.00 and gave the company an “underperform” rating in a research note on Friday, December 19th. Finally, Truist Financial raised their target price on shares of CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $39.64.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.