M&T Bank Corp Grows Stock Holdings in CarMax, Inc. $KMX

M&T Bank Corp increased its stake in shares of CarMax, Inc. (NYSE:KMX) by 216.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,343 shares of the company’s stock after acquiring an additional 13,905 shares during the period. M&T Bank Corp’s holdings in CarMax were worth $786,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new position in shares of CarMax during the second quarter worth about $28,000. MUFG Securities EMEA plc purchased a new stake in CarMax in the 2nd quarter valued at approximately $30,000. Center for Financial Planning Inc. purchased a new stake in CarMax in the 3rd quarter valued at approximately $31,000. Advisory Services Network LLC purchased a new stake in CarMax in the 3rd quarter valued at approximately $32,000. Finally, Strengthening Families & Communities LLC boosted its holdings in CarMax by 220.0% in the 3rd quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock valued at $39,000 after purchasing an additional 605 shares in the last quarter.

CarMax Price Performance

Shares of NYSE:KMX opened at $40.35 on Monday. The business’s 50 day simple moving average is $41.50 and its 200-day simple moving average is $41.41. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.20 and a quick ratio of 0.49. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $71.99.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.22 by $0.12. The business had revenue of $5.95 billion for the quarter, compared to analyst estimates of $5.65 billion. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 EPS. As a group, equities analysts forecast that CarMax, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KMX shares. Barclays lowered their price objective on CarMax from $28.00 to $26.00 and set an “underweight” rating on the stock in a report on Thursday, April 16th. Wall Street Zen lowered CarMax from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $41.00 price objective on shares of CarMax in a report on Wednesday, April 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a report on Wednesday, April 8th. Finally, Bank of America started coverage on CarMax in a report on Wednesday, April 15th. They issued an “underperform” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $41.21.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.