Commonwealth Equity Services LLC increased its position in shares of CarMax, Inc. (NYSE:KMX) by 22.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,036 shares of the company’s stock after purchasing an additional 3,854 shares during the period. Commonwealth Equity Services LLC’s holdings in CarMax were worth $1,933,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KMX. Principal Financial Group Inc. grew its position in CarMax by 18.9% in the second quarter. Principal Financial Group Inc. now owns 10,107,377 shares of the company’s stock valued at $905,115,000 after acquiring an additional 1,605,516 shares during the period. London Co. of Virginia grew its position in CarMax by 12.3% in the second quarter. London Co. of Virginia now owns 2,871,016 shares of the company’s stock valued at $257,099,000 after acquiring an additional 313,956 shares during the period. Dorsal Capital Management LLC bought a new stake in CarMax in the second quarter valued at $26,865,000. FMR LLC grew its position in CarMax by 110.3% in the second quarter. FMR LLC now owns 330,334 shares of the company’s stock valued at $29,581,000 after acquiring an additional 173,224 shares during the period. Finally, Alberta Investment Management Corp grew its position in CarMax by 232.4% in the second quarter. Alberta Investment Management Corp now owns 187,500 shares of the company’s stock valued at $16,791,000 after acquiring an additional 131,100 shares during the period.
NYSE:KMX opened at $94.55 on Friday. CarMax, Inc. has a 1-year low of $37.59 and a 1-year high of $109.31. The business’s 50-day moving average price is $92.70 and its two-hundred day moving average price is $93.89. The company has a current ratio of 2.71, a quick ratio of 0.94 and a debt-to-equity ratio of 3.72. The firm has a market capitalization of $15.51 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.89 and a beta of 1.88.
CarMax (NYSE:KMX) last released its earnings results on Thursday, September 24th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.84. CarMax had a return on equity of 19.23% and a net margin of 3.76%. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that CarMax, Inc. will post 4.13 earnings per share for the current year.
KMX has been the topic of a number of analyst reports. TheStreet upgraded CarMax from a “c+” rating to a “b-” rating in a research report on Thursday, September 24th. Exane BNP Paribas initiated coverage on CarMax in a report on Monday, October 5th. They set an “underperform” rating and a $73.00 target price on the stock. Guggenheim increased their target price on CarMax from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Bank of America decreased their target price on CarMax from $130.00 to $121.00 and set a “buy” rating on the stock in a report on Tuesday, November 17th. Finally, Royal Bank of Canada increased their target price on CarMax from $100.00 to $110.00 in a report on Tuesday, September 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $102.94.
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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