Hartford Investment Management Co. Cuts Stock Holdings in CarMax, Inc. (NYSE:KMX)

Hartford Investment Management Co. cut its stake in shares of CarMax, Inc. (NYSE:KMX) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,785 shares of the company’s stock after selling 259 shares during the period. Hartford Investment Management Co.’s holdings in CarMax were worth $757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. First Community Trust NA purchased a new stake in CarMax during the second quarter valued at about $29,000. Quarry LP grew its holdings in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares during the period. Blue Trust Inc. increased its position in CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after purchasing an additional 287 shares in the last quarter. Studio Investment Management LLC raised its holdings in CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after buying an additional 334 shares during the period. Finally, Headlands Technologies LLC acquired a new position in CarMax during the first quarter valued at approximately $55,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KMX. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Evercore ISI increased their target price on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, October 17th. StockNews.com upgraded CarMax to a “sell” rating in a report on Friday, July 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.73.

CarMax Price Performance

KMX opened at $72.00 on Friday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a 50-day moving average of $77.47 and a 200-day moving average of $74.89. The company has a market capitalization of $11.15 billion, a P/E ratio of 27.07, a PEG ratio of 1.45 and a beta of 1.68.

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