Citigroup Inc. Sells 364,567 Shares of CarMax, Inc. $KMX

Citigroup Inc. reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 76.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 110,418 shares of the company’s stock after selling 364,567 shares during the period. Citigroup Inc. owned about 0.08% of CarMax worth $4,954,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after purchasing an additional 161 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after buying an additional 173 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of CarMax by 4.2% in the third quarter. Resonant Capital Advisors LLC now owns 6,388 shares of the company’s stock valued at $287,000 after acquiring an additional 256 shares in the last quarter. Ossiam grew its holdings in shares of CarMax by 19.5% in the second quarter. Ossiam now owns 1,713 shares of the company’s stock valued at $115,000 after acquiring an additional 280 shares in the last quarter. Finally, Hollencrest Capital Management increased its position in shares of CarMax by 39.9% during the second quarter. Hollencrest Capital Management now owns 1,052 shares of the company’s stock valued at $71,000 after acquiring an additional 300 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Robert W. Baird boosted their price objective on CarMax from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. William Blair downgraded shares of CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Zacks Research upgraded shares of CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Bank of America lifted their price objective on shares of CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research report on Friday, December 19th. Finally, Evercore set a $42.00 target price on shares of CarMax in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, CarMax presently has an average rating of “Reduce” and an average target price of $39.21.

CarMax Price Performance

Shares of NYSE:KMX opened at $41.91 on Wednesday. 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 capitalization of $5.94 billion, a PE ratio of 13.83, a P/E/G ratio of 0.98 and a beta of 1.35. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $82.79. The company has a 50-day moving average price of $43.92 and a two-hundred day moving average price of $45.45.

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

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.