DAVENPORT & Co LLC Cuts Stock Holdings in CarMax, Inc. $KMX

DAVENPORT & Co LLC decreased its position in CarMax, Inc. (NYSE:KMX) by 87.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,238 shares of the company’s stock after selling 992,281 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.10% of CarMax worth $5,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new position in shares of CarMax during the second quarter valued at about $28,000. MUFG Securities EMEA plc bought a new stake in CarMax in the 2nd quarter worth about $30,000. Center for Financial Planning Inc. bought a new stake in CarMax in the 3rd quarter worth about $31,000. Advisory Services Network LLC purchased a new stake in CarMax in the 3rd quarter valued at about $32,000. Finally, True Wealth Design LLC increased its stake in CarMax by 54.3% in the 4th quarter. True Wealth Design LLC now owns 907 shares of the company’s stock valued at $35,000 after buying an additional 319 shares during the last quarter.

CarMax Stock Up 1.8%

CarMax stock opened at $42.65 on Friday. The firm has a 50 day moving average price of $43.97 and a 200-day moving average price of $43.52. The company has a quick ratio of 0.51, a current ratio of 1.99 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 $82.79. The company has a market capitalization of $6.05 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.07 and a beta of 1.35.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on KMX shares. Evercore set a $42.00 target price on CarMax in a research note on Tuesday, February 10th. Wedbush decreased their price target on CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. JPMorgan Chase & Co. dropped their price target on CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. Barclays boosted their price objective on CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. Finally, Bank of America upped their price objective on CarMax from $27.00 to $31.00 and gave the company an “underperform” rating in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $39.21.

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.