CarMax, Inc. $KMX Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its stake in shares of CarMax, Inc. (NYSE:KMX) by 31.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,570 shares of the company’s stock after selling 1,659 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in CarMax were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KMX. Teacher Retirement System of Texas acquired a new position in CarMax during the 1st quarter valued at approximately $1,753,000. D.A. Davidson & CO. boosted its position in CarMax by 2.7% during the 1st quarter. D.A. Davidson & CO. now owns 12,203 shares of the company’s stock valued at $951,000 after purchasing an additional 325 shares during the period. OneDigital Investment Advisors LLC boosted its position in CarMax by 5.6% during the 1st quarter. OneDigital Investment Advisors LLC now owns 11,932 shares of the company’s stock valued at $930,000 after purchasing an additional 631 shares during the period. IFM Investors Pty Ltd boosted its position in CarMax by 11.5% during the 1st quarter. IFM Investors Pty Ltd now owns 28,788 shares of the company’s stock valued at $2,228,000 after purchasing an additional 2,978 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in CarMax by 1.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,521,704 shares of the company’s stock valued at $118,571,000 after purchasing an additional 20,800 shares during the period.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen downgraded CarMax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Evercore ISI reaffirmed an “in-line” rating and set a $52.00 target price (down previously from $80.00) on shares of CarMax in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a research note on Tuesday, October 14th. Royal Bank Of Canada cut their target price on CarMax from $81.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Finally, Needham & Company LLC cut their target price on CarMax from $92.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.75.

CarMax Stock Up 0.3%

KMX opened at $41.98 on Monday. CarMax, Inc. has a one year low of $41.13 and a one year high of $91.25. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. The stock’s fifty day moving average is $51.55 and its 200-day moving average is $59.53. The company has a market capitalization of $6.16 billion, a PE ratio of 12.31, a P/E/G ratio of 0.81 and a beta of 1.27.

CarMax (NYSE:KMX) last posted its quarterly earnings data 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 return on equity of 8.51% and a net margin of 1.98%.The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the firm posted $0.85 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

About CarMax

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.