KLP Kapitalforvaltning AS Sells 25,756 Shares of CarMax, Inc. $KMX

KLP Kapitalforvaltning AS reduced its stake in CarMax, Inc. (NYSE:KMX) by 44.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,700 shares of the company’s stock after selling 25,756 shares during the period. KLP Kapitalforvaltning AS’s holdings in CarMax were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in shares of CarMax in the first quarter valued at approximately $27,000. Accent Capital Management LLC bought a new stake in shares of CarMax in the first quarter valued at approximately $34,000. Strengthening Families & Communities LLC boosted its stake in shares of CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after buying an additional 256 shares during the period. Quarry LP boosted its stake in shares of CarMax by 50.5% in the first quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after buying an additional 233 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of CarMax by 49.2% in the first quarter. Blue Trust Inc. now owns 898 shares of the company’s stock valued at $70,000 after buying an additional 296 shares during the period.

Wall Street Analyst Weigh In

KMX has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on CarMax from $65.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 26th. Stephens cut CarMax from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $53.00 to $42.00 in a research note on Tuesday, October 7th. Wall Street Zen cut CarMax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Truist Financial cut their target price on CarMax from $74.00 to $47.00 and set a “hold” rating for the company in a research note on Friday, September 26th. Finally, Evercore ISI restated an “in-line” rating and set a $52.00 target price (down from $80.00) on shares of CarMax in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, CarMax presently has a consensus rating of “Hold” and an average price target of $54.42.

CarMax Stock Down 2.3%

NYSE KMX opened at $43.09 on Monday. The business has a fifty day moving average price of $55.65 and a two-hundred day moving average price of $62.81. The stock has a market capitalization of $6.33 billion, a PE ratio of 12.64, a PEG ratio of 0.82 and a beta of 1.27. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06. CarMax, Inc. has a fifty-two week low of $42.75 and a fifty-two week high of $91.25.

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

About CarMax

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.