Resona Asset Management Co. Ltd. Lowers Stake in CarMax, Inc. $KMX

Resona Asset Management Co. Ltd. reduced its position in CarMax, Inc. (NYSE:KMX) by 96.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,592 shares of the company’s stock after selling 47,940 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in CarMax were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KMX. Zions Bancorporation National Association UT purchased a new position in shares of CarMax during the 1st quarter valued at $27,000. Accent Capital Management LLC bought a new stake in CarMax during the first quarter valued at about $34,000. Strengthening Families & Communities LLC raised its holdings in CarMax by 93.1% during the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after acquiring an additional 256 shares during the period. Quarry LP lifted its position 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 acquiring an additional 233 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of CarMax by 25.8% in the second quarter. Blue Trust Inc. now owns 1,130 shares of the company’s stock worth $76,000 after acquiring an additional 232 shares during the period.

CarMax Stock Up 0.9%

NYSE KMX opened at $34.44 on Thursday. The stock has a 50 day moving average price of $47.58 and a 200-day moving average price of $57.95. CarMax, Inc. has a one year low of $30.26 and a one year high of $91.25. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. The company has a market capitalization of $5.06 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.81 and a beta of 1.26.

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

Analyst Ratings Changes

Several brokerages recently issued reports on KMX. Stephens downgraded CarMax from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $53.00 to $42.00 in a research note on Tuesday, October 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of CarMax in a report on Friday, November 7th. Evercore ISI lowered their target price on shares of CarMax from $52.00 to $35.00 and set an “in-line” rating on the stock in a report on Thursday, November 6th. Royal Bank Of Canada restated a “sector perform” rating and set a $34.00 target price (down previously from $59.00) on shares of CarMax in a research report on Friday, November 7th. Finally, Truist Financial reduced their price target on shares of CarMax from $47.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $42.62.

CarMax Company 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.