Envestnet Asset Management Inc. Reduces Position in CarMax, Inc. $KMX

Envestnet Asset Management Inc. lowered its stake in CarMax, Inc. (NYSE:KMX) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,519,900 shares of the company’s stock after selling 41,616 shares during the period. Envestnet Asset Management Inc. owned 1.04% of CarMax worth $68,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new position in CarMax in the 2nd quarter worth $28,000. MUFG Securities EMEA plc purchased a new position in shares of CarMax in the second quarter worth about $30,000. Strengthening Families & Communities LLC raised its stake in shares of CarMax by 220.0% in the third quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock worth $39,000 after purchasing an additional 605 shares during the last quarter. Hollencrest Capital Management lifted its holdings in shares of CarMax by 39.9% during the second quarter. Hollencrest Capital Management now owns 1,052 shares of the company’s stock worth $71,000 after purchasing an additional 300 shares during the period. Finally, Blue Trust Inc. boosted its position in CarMax by 25.8% in the second quarter. Blue Trust Inc. now owns 1,130 shares of the company’s stock valued at $76,000 after buying an additional 232 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently commented on KMX. Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Benchmark reaffirmed a “hold” rating on shares of CarMax in a report on Tuesday, December 16th. Barclays lifted their price objective on CarMax from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Wednesday, January 21st. Morgan Stanley set a $35.00 target price on CarMax in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. dropped their target price on CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. 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. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $39.93.

CarMax Stock Performance

NYSE KMX opened at $47.20 on Monday. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.13 and a beta of 1.35. The stock has a 50-day moving average of $42.65 and a 200 day moving average of $47.13. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $89.47.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 18th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The business had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The business’s revenue was down 6.9% compared to the same quarter last year. Sell-side analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal 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.