KCM Investment Advisors LLC Reduces Holdings in CarMax, Inc. (NYSE:KMX)

Posted by on Apr 16th, 2023

KCM Investment Advisors LLC decreased its position in shares of CarMax, Inc. (NYSE:KMX – Get Rating) by 39.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,125 shares of the company’s stock after selling 2,690 shares during the period. KCM Investment Advisors LLC’s holdings in CarMax were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new position in CarMax during the 1st quarter worth $106,000. American Century Companies Inc. grew its holdings in CarMax by 11.8% during the 1st quarter. American Century Companies Inc. now owns 23,475 shares of the company’s stock worth $2,264,000 after acquiring an additional 2,483 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in CarMax by 80.1% during the 1st quarter. Panagora Asset Management Inc. now owns 16,980 shares of the company’s stock worth $1,638,000 after acquiring an additional 7,550 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in CarMax by 6.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,633 shares of the company’s stock worth $2,087,000 after acquiring an additional 1,285 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in CarMax by 1.2% during the 1st quarter. Yousif Capital Management LLC now owns 26,032 shares of the company’s stock worth $2,512,000 after acquiring an additional 299 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KMX. Argus lowered shares of CarMax from a “buy” rating to a “hold” rating in a report on Thursday, January 5th. StockNews.com began coverage on shares of CarMax in a report on Thursday, March 16th. They set a “sell” rating for the company. Truist Financial decreased their price objective on shares of CarMax from $66.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday. Oppenheimer lifted their price target on shares of CarMax from $75.00 to $85.00 in a report on Friday. Finally, Evercore ISI decreased their price target on shares of CarMax from $63.00 to $60.00 and set an “in-line” rating for the company in a report on Friday, December 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.90.

CarMax Trading Up 0.7 %

Shares of NYSE:KMX opened at $69.46 on Friday. The company has a market cap of $10.98 billion, a PE ratio of 22.92, a P/E/G ratio of 9.67 and a beta of 1.42. The company’s 50-day moving average price is $66.61 and its 200 day moving average price is $65.74. CarMax, Inc. has a fifty-two week low of $52.10 and a fifty-two week high of $106.24. The company has a quick ratio of 0.81, a current ratio of 2.60 and a debt-to-equity ratio of 3.17.

CarMax (NYSE:KMX – Get Rating) last issued its quarterly earnings data on Tuesday, April 11th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. The firm had revenue of $5.72 billion for the quarter, compared to the consensus estimate of $6.10 billion. CarMax had a net margin of 1.63% and a return on equity of 8.85%. CarMax’s quarterly revenue was down 25.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. Sell-side analysts anticipate that CarMax, Inc. will post 2.73 earnings per share for the current year.

CarMax Company Profile

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CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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