Aberdeen Group plc Reduces Stock Holdings in CarMax, Inc. $KMX

Aberdeen Group plc trimmed its position in shares of CarMax, Inc. (NYSE:KMX) by 92.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,733 shares of the company’s stock after selling 106,368 shares during the period. Aberdeen Group plc’s holdings in CarMax were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of CarMax during the 2nd quarter worth $208,144,000. AQR Capital Management LLC lifted its holdings in 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 during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in CarMax by 1,410.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,028,718 shares of the company’s stock worth $136,350,000 after purchasing an additional 1,894,408 shares during the period. The Manufacturers Life Insurance Company boosted its position in CarMax by 795.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,846,406 shares of the company’s stock worth $124,097,000 after purchasing an additional 1,640,219 shares during the period. Finally, Azora Capital LP purchased a new position in shares of CarMax in the second quarter worth about $45,793,000.

CarMax Trading Down 0.2%

Shares of KMX stock opened at $44.49 on Monday. The business has a 50-day moving average price of $43.51 and a two-hundred day moving average price of $46.15. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $86.38. 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 firm has a market cap of $6.31 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35.

CarMax (NYSE:KMX) last released its earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The company had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.CarMax’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. Equities analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KMX shares. Truist Financial upped their price target on shares of CarMax from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Zacks Research raised shares of CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Wedbush cut their price target on CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Mizuho reduced their price target on CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of CarMax in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Reduce” and an average price target of $39.21.

CarMax Profile

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.