Mirae Asset Global Investments Co. Ltd. Reduces Stake in CarMax, Inc. $KMX

Mirae Asset Global Investments Co. Ltd. lowered its stake in CarMax, Inc. (NYSE:KMX) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,866 shares of the company’s stock after selling 1,812 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CarMax were worth $1,268,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of CarMax by 138.3% during the first quarter. Farther Finance Advisors LLC now owns 2,397 shares of the company’s stock valued at $189,000 after acquiring an additional 1,391 shares in the last quarter. GAMMA Investing LLC grew its holdings in CarMax by 12.6% in the first quarter. GAMMA Investing LLC now owns 6,620 shares of the company’s stock worth $516,000 after purchasing an additional 742 shares during the last quarter. SG Americas Securities LLC grew its holdings in CarMax by 105.7% in the first quarter. SG Americas Securities LLC now owns 11,303 shares of the company’s stock worth $881,000 after purchasing an additional 5,808 shares during the last quarter. CX Institutional purchased a new position in CarMax in the first quarter worth $245,000. Finally, Simon Quick Advisors LLC acquired a new position in shares of CarMax in the 1st quarter valued at $207,000.

Wall Street Analysts Forecast Growth

KMX has been the topic of several recent research reports. Wedbush lowered shares of CarMax from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $84.00 to $54.00 in a report on Thursday, September 25th. Wall Street Zen downgraded shares of CarMax from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Seaport Res Ptn downgraded shares of CarMax from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 28th. Needham & Company LLC dropped their price target on shares of CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Finally, Mizuho dropped their price target on shares of CarMax from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.42.

CarMax Price Performance

Shares of KMX opened at $44.04 on Friday. The firm has a fifty day moving average price of $55.91 and a 200 day moving average price of $63.21. CarMax, Inc. has a 1-year low of $42.75 and a 1-year high of $91.25. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06. The stock has a market cap of $6.47 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 0.83 and a beta of 1.27.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. CarMax’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, sell-side analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.