CarMax, Inc. $KMX Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its stake in shares of CarMax, Inc. (NYSE:KMX) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,737,911 shares of the company’s stock after selling 31,395 shares during the quarter. Primecap Management Co. CA’s holdings in CarMax were worth $318,435,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KMX. Victory Capital Management Inc. increased its stake in shares of CarMax by 7.1% during the first quarter. Victory Capital Management Inc. now owns 57,667 shares of the company’s stock worth $4,493,000 after buying an additional 3,808 shares during the period. Private Advisor Group LLC raised its holdings in shares of CarMax by 21.3% in the 1st quarter. Private Advisor Group LLC now owns 17,337 shares of the company’s stock valued at $1,351,000 after purchasing an additional 3,049 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of CarMax by 4.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,962 shares of the company’s stock worth $932,000 after purchasing an additional 478 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of CarMax by 4.3% during the first quarter. Allianz Asset Management GmbH now owns 11,849 shares of the company’s stock worth $923,000 after purchasing an additional 491 shares in the last quarter. Finally, AE Wealth Management LLC increased its holdings in CarMax by 7.9% in the first quarter. AE Wealth Management LLC now owns 5,132 shares of the company’s stock valued at $400,000 after buying an additional 376 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on KMX shares. Needham & Company LLC reiterated a “hold” rating on shares of CarMax in a report on Friday, November 7th. Robert W. Baird dropped their price target on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Royal Bank Of Canada reissued a “sector perform” rating and set a $34.00 price objective (down previously from $59.00) on shares of CarMax in a report on Friday, November 7th. Benchmark cut shares of CarMax from a “buy” rating to a “hold” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $30.00 price target (down from $50.00) on shares of CarMax in a research note on Thursday, November 6th. One equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $41.54.

CarMax Price Performance

KMX stock opened at $33.44 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $4.91 billion, a P/E ratio of 9.81, a PEG ratio of 0.81 and a beta of 1.26. The business has a 50 day simple moving average of $45.39 and a 200-day simple moving average of $57.01. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $91.25.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities 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.