JPMorgan Chase & Co. reduced its position in shares of CarMax, Inc. (NYSE:KMX – Get Rating) by 45.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,374,029 shares of the company’s stock after selling 1,127,334 shares during the period. JPMorgan Chase & Co. owned about 0.87% of CarMax worth $83,666,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC lifted its position in CarMax by 14.8% in the fourth quarter. Intech Investment Management LLC now owns 39,475 shares of the company’s stock valued at $2,404,000 after acquiring an additional 5,082 shares during the last quarter. abrdn plc lifted its position in CarMax by 7.3% in the fourth quarter. abrdn plc now owns 41,195 shares of the company’s stock valued at $2,508,000 after acquiring an additional 2,812 shares during the last quarter. Ethic Inc. lifted its position in CarMax by 34.0% in the third quarter. Ethic Inc. now owns 4,681 shares of the company’s stock valued at $309,000 after acquiring an additional 1,189 shares during the last quarter. Bank of Montreal Can lifted its position in CarMax by 3.7% in the fourth quarter. Bank of Montreal Can now owns 202,747 shares of the company’s stock valued at $13,373,000 after acquiring an additional 7,216 shares during the last quarter. Finally, Nexus Investment Management ULC lifted its position in CarMax by 28.1% in the fourth quarter. Nexus Investment Management ULC now owns 342,949 shares of the company’s stock valued at $20,882,000 after acquiring an additional 75,300 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of CarMax from $40.00 to $44.00 and gave the company an “underperform” rating in a research report on Thursday, April 13th. Truist Financial dropped their price objective on shares of CarMax from $66.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, April 12th. Oppenheimer lifted their price objective on shares of CarMax from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, April 14th. StockNews.com began coverage on shares of CarMax in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, March 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, CarMax currently has an average rating of “Hold” and an average target price of $65.40.
CarMax Stock Up 5.1 %
CarMax (NYSE:KMX – Get Rating) last announced its quarterly earnings results on Tuesday, April 11th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. CarMax had a net margin of 1.63% and a return on equity of 8.85%. The company had revenue of $5.72 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was down 25.6% compared to the same quarter last year. On average, research analysts expect that CarMax, Inc. will post 2.27 earnings per share for the current fiscal year.
About CarMax
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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