Charles Schwab Investment Management Inc. Sells 10,573 Shares of CarMax, Inc. $KMX

Charles Schwab Investment Management Inc. trimmed its position in shares of CarMax, Inc. (NYSE:KMX) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,476,983 shares of the company’s stock after selling 10,573 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.98% of CarMax worth $99,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of KMX. Fuller & Thaler Asset Management Inc. grew its position in CarMax by 626.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company’s stock worth $70,364,000 after acquiring an additional 778,652 shares during the last quarter. Nuveen LLC acquired a new position in CarMax in the first quarter worth $33,872,000. Acadian Asset Management LLC grew its holdings in shares of CarMax by 3,921.2% during the second quarter. Acadian Asset Management LLC now owns 375,862 shares of the company’s stock worth $25,261,000 after purchasing an additional 366,515 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of CarMax by 107.8% in the second quarter. JPMorgan Chase & Co. now owns 656,990 shares of the company’s stock valued at $44,159,000 after buying an additional 340,849 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of CarMax in the second quarter valued at about $17,514,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KMX shares. Barclays began coverage on shares of CarMax in a report on Tuesday, November 11th. They set an “underweight” rating and a $28.00 price objective on the stock. Robert W. Baird lowered their price target on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, September 26th. Morgan Stanley restated an “equal weight” rating and issued a $35.00 price objective (down previously from $56.00) on shares of CarMax in a research report on Monday, November 10th. Seaport Res Ptn lowered CarMax from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 28th. Finally, Evercore ISI lowered their target price on CarMax from $52.00 to $35.00 and set an “in-line” rating for the company in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $41.54.

CarMax Price Performance

KMX opened at $38.30 on Friday. The company has a fifty day moving average price of $41.64 and a two-hundred day moving average price of $55.46. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $91.25. The firm has a market capitalization of $5.62 billion, a PE ratio of 11.23, a P/E/G ratio of 0.81 and a beta of 1.26.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share 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 company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the company earned $0.85 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

CarMax Company 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.