Lecap Asset Management Ltd. Trims Stock Position in CarMax, Inc. $KMX

Lecap Asset Management Ltd. lessened its holdings in CarMax, Inc. (NYSE:KMX) by 7.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 13,587 shares of the company’s stock after selling 1,037 shares during the period. Lecap Asset Management Ltd.’s holdings in CarMax were worth $913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Avior Wealth Management LLC raised its position in CarMax by 6,129.3% in the second quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock worth $628,000 after acquiring an additional 9,194 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CarMax by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company’s stock worth $1,571,000 after purchasing an additional 2,375 shares in the last quarter. Teacher Retirement System of Texas bought a new position in CarMax in the 1st quarter worth $1,753,000. Sequoia Financial Advisors LLC lifted its position in CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock valued at $262,000 after purchasing an additional 176 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in CarMax by 54.9% during the second quarter. Wedge Capital Management L L P NC now owns 102,632 shares of the company’s stock valued at $6,898,000 after purchasing an additional 36,376 shares during the period.

CarMax Price Performance

Shares of NYSE:KMX opened at $46.06 on Friday. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 0.85 and a beta of 1.27. CarMax, Inc. has a fifty-two week low of $42.75 and a fifty-two week 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 firm has a fifty day moving average price of $57.27 and a 200 day moving average price of $64.11.

CarMax (NYSE:KMX) last issued its 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). CarMax had a return on equity of 8.51% and a net margin of 1.98%.The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on KMX. Truist Financial decreased their price objective on CarMax from $74.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Benchmark initiated coverage on shares of CarMax in a research note on Thursday, July 17th. They set a “buy” rating and a $75.00 target price on the stock. Needham & Company LLC lowered their price target on shares of CarMax from $92.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Robert W. Baird reduced their price objective on shares of CarMax from $90.00 to $60.00 and set an “outperform” 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 price objective (down from $80.00) on shares of CarMax in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CarMax currently has an average rating of “Hold” and an average target price of $60.31.

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.