Cannell Peter B & Co. Inc. lowered its holdings in CarMax (NYSE:KMX) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,523 shares of the company’s stock after selling 5,550 shares during the period. Cannell Peter B & Co. Inc. owned about 0.10% of CarMax worth $10,810,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Mar Vista Investment Partners LLC purchased a new position in CarMax in the fourth quarter worth $38,803,000. LFL Advisers LLC boosted its position in CarMax by 27.3% in the fourth quarter. LFL Advisers LLC now owns 210,000 shares of the company’s stock worth $13,467,000 after purchasing an additional 45,000 shares during the last quarter. Ellington Management Group LLC purchased a new position in CarMax in the fourth quarter worth $327,000. APG Asset Management N.V. boosted its position in CarMax by 0.5% in the fourth quarter. APG Asset Management N.V. now owns 287,507 shares of the company’s stock worth $15,355,000 after purchasing an additional 1,400 shares during the last quarter. Finally, M&T Bank Corp boosted its position in CarMax by 26.8% in the fourth quarter. M&T Bank Corp now owns 70,270 shares of the company’s stock worth $4,506,000 after purchasing an additional 14,866 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.
NYSE:KMX opened at $66.47 on Tuesday. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.57 and a current ratio of 2.61. CarMax has a 52-week low of $57.05 and a 52-week high of $77.64. The firm has a market cap of $11.77 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.05 and a beta of 1.53.
CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, April 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.10). CarMax had a net margin of 3.88% and a return on equity of 21.09%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. research analysts forecast that CarMax will post 4.34 earnings per share for the current year.
In related news, Director Thomas J. Folliard sold 50,583 shares of the business’s stock in a transaction on Thursday, April 12th. The stock was sold at an average price of $60.78, for a total transaction of $3,074,434.74. Following the sale, the director now directly owns 379,465 shares in the company, valued at approximately $23,063,882.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO William C. Jr. Wood sold 49,714 shares of the business’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $63.01, for a total value of $3,132,479.14. Following the sale, the chief operating officer now owns 87,173 shares in the company, valued at $5,492,770.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,297 shares of company stock worth $7,483,514. 1.97% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on the company. Credit Suisse Group set a $78.00 target price on CarMax and gave the company a “buy” rating in a research note on Tuesday, March 13th. Guggenheim assumed coverage on CarMax in a research note on Monday, April 16th. They issued a “buy” rating and a $72.00 target price on the stock. Buckingham Research upgraded CarMax from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, April 5th. Deutsche Bank lowered their target price on CarMax from $76.00 to $63.00 and set a “hold” rating on the stock in a research note on Thursday, April 5th. Finally, William Blair restated an “outperform” rating on shares of CarMax in a research note on Tuesday, March 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. CarMax has an average rating of “Buy” and an average target price of $78.40.
CarMax Company 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 and imported vehicles; sells vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and provides extended protection plans to customers at the time of sale.
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