Janney Montgomery Scott LLC lifted its holdings in CarMax, Inc. (NYSE:KMX – Get Rating) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,543 shares of the company’s stock after purchasing an additional 262 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CarMax were worth $2,083,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in CarMax by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,690,606 shares of the company’s stock worth $1,706,790,000 after acquiring an additional 303,973 shares in the last quarter. Principal Financial Group Inc. raised its position in CarMax by 4.6% during the second quarter. Principal Financial Group Inc. now owns 10,389,224 shares of the company’s stock worth $940,017,000 after acquiring an additional 455,386 shares in the last quarter. Akre Capital Management LLC raised its position in CarMax by 0.7% during the first quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock worth $708,159,000 after acquiring an additional 49,780 shares in the last quarter. Invesco Ltd. raised its position in CarMax by 8.4% during the first quarter. Invesco Ltd. now owns 3,757,420 shares of the company’s stock worth $362,515,000 after acquiring an additional 291,804 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in CarMax by 29.4% during the first quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company’s stock worth $342,400,000 after acquiring an additional 805,438 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on KMX. Evercore ISI dropped their price target on shares of CarMax from $63.00 to $60.00 and set an “in-line” rating on the stock in a research report on Friday, December 23rd. Oppenheimer dropped their price target on shares of CarMax from $100.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, December 23rd. Stephens dropped their price objective on shares of CarMax from $64.00 to $53.00 in a research report on Friday, December 23rd. Robert W. Baird dropped their price objective on shares of CarMax from $82.00 to $65.00 in a research report on Friday, December 23rd. Finally, JPMorgan Chase & Co. lowered shares of CarMax from a “neutral” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $69.40.
CarMax Trading Down 2.8 %
CarMax (NYSE:KMX – Get Rating) last released its quarterly earnings results on Thursday, December 22nd. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.50). The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $7.18 billion. CarMax had a net margin of 1.82% and a return on equity of 10.69%. The company’s revenue was down 23.7% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. As a group, sell-side analysts anticipate that CarMax, Inc. will post 2.92 earnings per share for the current year.
CarMax Company Profile
CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through 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, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.
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