Daiwa Securities Group Inc. reduced its position in shares of CarMax Inc. (NYSE:KMX) by 6.3% during the third quarter, Holdings Channel reports. The fund owned 83,500 shares of the company’s stock after selling 5,600 shares during the period. Daiwa Securities Group Inc.’s holdings in CarMax were worth $4,455,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Conning Inc. raised its stake in shares of CarMax by 0.6% in the third quarter. Conning Inc. now owns 4,829 shares of the company’s stock worth $258,000 after buying an additional 30 shares in the last quarter. World Asset Management Inc raised its stake in shares of CarMax by 0.3% in the second quarter. World Asset Management Inc now owns 19,322 shares of the company’s stock worth $947,000 after buying an additional 59 shares in the last quarter. Capital One National Association raised its stake in shares of CarMax by 0.7% in the third quarter. Capital One National Association now owns 12,596 shares of the company’s stock worth $672,000 after buying an additional 86 shares in the last quarter. Eqis Capital Management Inc. raised its stake in shares of CarMax by 1.2% in the third quarter. Eqis Capital Management Inc. now owns 7,475 shares of the company’s stock worth $399,000 after buying an additional 92 shares in the last quarter. Finally, Gagnon Securities LLC raised its stake in shares of CarMax by 0.4% in the second quarter. Gagnon Securities LLC now owns 24,875 shares of the company’s stock worth $1,220,000 after buying an additional 98 shares in the last quarter.
CarMax Inc. (NYSE:KMX) traded down 0.14% during midday trading on Friday, hitting $58.32. The company’s stock had a trading volume of 324,184 shares. The firm has a market cap of $11.10 billion, a P/E ratio of 18.96 and a beta of 1.24. The company’s 50 day moving average price is $52.34 and its 200 day moving average price is $53.83. CarMax Inc. has a 12 month low of $41.25 and a 12 month high of $60.81.
CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The company earned $4 billion during the quarter, compared to the consensus estimate of $4.11 billion. CarMax had a net margin of 3.95% and a return on equity of 20.92%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. Analysts expect that CarMax Inc. will post $3.27 EPS for the current year.
A number of brokerages have commented on KMX. Wedbush reissued a “neutral” rating and set a $55.00 price objective on shares of CarMax in a report on Wednesday, November 16th. Deutsche Bank AG raised CarMax from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $68.00 in a report on Monday, October 24th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating on shares of CarMax in a report on Sunday, October 16th. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Thursday, October 6th. Finally, Goldman Sachs Group Inc. set a $63.00 target price on CarMax and gave the company a “buy” rating in a report on Monday, September 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. CarMax currently has an average rating of “Hold” and a consensus price target of $62.16.
In related news, Director Jeffrey E. Garten sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $53.41, for a total transaction of $336,483.00. Following the completion of the sale, the director now owns 21,552 shares of the company’s stock, valued at $1,151,092.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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