Welch & Forbes LLC Trims Holdings in CarMax, Inc. $KMX

Welch & Forbes LLC trimmed its holdings in CarMax, Inc. (NYSE:KMX) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,220 shares of the company’s stock after selling 40,251 shares during the quarter. Welch & Forbes LLC owned about 0.56% of CarMax worth $36,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of KMX. AQR Capital Management LLC increased its stake in shares of CarMax by 195.3% during the second quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock valued at $298,107,000 after purchasing an additional 2,947,996 shares in the last quarter. Baird Financial Group Inc. increased its position in CarMax by 6.6% during the 2nd quarter. Baird Financial Group Inc. now owns 3,298,113 shares of the company’s stock valued at $221,666,000 after buying an additional 204,481 shares in the last quarter. Norges Bank purchased a new position in CarMax during the second quarter valued at $208,144,000. Invesco Ltd. raised its stake in CarMax by 4.7% during the second quarter. Invesco Ltd. now owns 2,998,928 shares of the company’s stock valued at $201,558,000 after buying an additional 135,334 shares during the last quarter. Finally, First Pacific Advisors LP boosted its holdings in CarMax by 0.6% in the second quarter. First Pacific Advisors LP now owns 2,431,244 shares of the company’s stock worth $163,404,000 after acquiring an additional 15,270 shares in the last quarter.

Analyst Ratings Changes

KMX has been the subject of several analyst reports. Morgan Stanley set a $35.00 price target on CarMax in a report on Monday, December 8th. Royal Bank Of Canada raised their price objective on shares of CarMax from $34.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, December 19th. Barclays lifted their target price on shares of CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday, January 21st. Stephens cut their price target on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, December 19th. Finally, Mizuho decreased their price objective on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, CarMax currently has a consensus rating of “Reduce” and a consensus price target of $39.64.

CarMax Stock Performance

Shares of KMX stock opened at $44.51 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74. The company has a 50 day moving average price of $41.81 and a 200-day moving average price of $47.92. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $89.47. The firm has a market capitalization of $6.31 billion, a PE ratio of 14.69, a P/E/G ratio of 1.09 and a beta of 1.29.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, equities research analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current year.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.