CarMax, Inc. $KMX Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in CarMax, Inc. (NYSE:KMX) by 47.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,363 shares of the company’s stock after selling 5,846 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in CarMax were worth $428,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in shares of CarMax in the 1st quarter valued at about $27,000. Accent Capital Management LLC acquired a new position in shares of CarMax in the 1st quarter valued at about $34,000. Strengthening Families & Communities LLC raised its holdings in CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock worth $39,000 after purchasing an additional 256 shares during the period. Quarry LP raised its holdings in CarMax by 50.5% in the 1st quarter. Quarry LP now owns 694 shares of the company’s stock worth $54,000 after purchasing an additional 233 shares during the period. Finally, Blue Trust Inc. raised its holdings in CarMax by 49.2% in the 1st quarter. Blue Trust Inc. now owns 898 shares of the company’s stock worth $70,000 after purchasing an additional 296 shares during the period.

CarMax Price Performance

Shares of CarMax stock opened at $43.79 on Thursday. The business has a 50 day simple moving average of $53.68 and a two-hundred day simple moving average of $61.13. CarMax, Inc. has a 12 month low of $42.34 and a 12 month high of $91.25. The stock has a market capitalization of $6.43 billion, a P/E ratio of 12.84, a PEG ratio of 0.85 and a beta of 1.27. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the company earned $0.85 EPS. CarMax’s revenue was down 6.0% compared to the same quarter last year. As a group, analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on KMX. Zacks Research cut CarMax from a “hold” rating to a “strong sell” rating in a report on Thursday, October 2nd. Needham & Company LLC reduced their price target on CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a report on Friday, September 26th. Mizuho reduced their price target on CarMax from $78.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Morgan Stanley reduced their price target on CarMax from $80.00 to $56.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.75.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.