CIBC Asset Management Inc Grows Stake in CarMax, Inc. (NYSE:KMX)

CIBC Asset Management Inc grew its stake in shares of CarMax, Inc. (NYSE:KMX) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,840 shares of the company’s stock after acquiring an additional 1,589 shares during the quarter. CIBC Asset Management Inc’s holdings in CarMax were worth $1,767,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. First Community Trust NA purchased a new position in CarMax during the 2nd quarter worth approximately $29,000. Quarry LP raised its position in shares of CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares during the period. Catalyst Capital Advisors LLC purchased a new position in CarMax during the third quarter worth approximately $32,000. Blue Trust Inc. grew its stake in CarMax by 134.1% in the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the period. Finally, Studio Investment Management LLC lifted its holdings in CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares in the last quarter.

CarMax Trading Down 2.3 %

NYSE KMX opened at $75.29 on Wednesday. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. CarMax, Inc. has a 12 month low of $62.90 and a 12 month high of $88.22. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.59 and a beta of 1.68. The firm’s fifty day moving average price is $75.07 and its 200 day moving average price is $75.61.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the company posted $0.75 earnings per share. CarMax’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price objective on shares of CarMax in a report on Wednesday, October 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of CarMax in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Evercore ISI raised their target price on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, October 17th. Finally, StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.73.

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.