United Capital Financial Advisers LLC Boosts Position in CarMax, Inc. (NYSE:KMX)

United Capital Financial Advisers LLC boosted its position in shares of CarMax, Inc. (NYSE:KMXGet Rating) by 45.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,930 shares of the company’s stock after purchasing an additional 22,303 shares during the quarter. United Capital Financial Advisers LLC’s holdings in CarMax were worth $6,418,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of CarMax by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,690,606 shares of the company’s stock valued at $1,706,790,000 after acquiring an additional 303,973 shares in the last quarter. BlackRock Inc. lifted its position in shares of CarMax by 2.0% in the first quarter. BlackRock Inc. now owns 10,408,259 shares of the company’s stock valued at $1,004,188,000 after acquiring an additional 207,959 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of CarMax by 4.6% in the second quarter. Principal Financial Group Inc. now owns 10,389,224 shares of the company’s stock valued at $940,017,000 after acquiring an additional 455,386 shares in the last quarter. Akre Capital Management LLC lifted its position in shares of CarMax by 0.7% in the first quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock valued at $708,159,000 after acquiring an additional 49,780 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of CarMax by 3.4% in the first quarter. Capital Research Global Investors now owns 6,118,313 shares of the company’s stock valued at $590,295,000 after acquiring an additional 202,070 shares in the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

CarMax Stock Performance

Shares of NYSE:KMX opened at $66.59 on Thursday. The firm has a market capitalization of $10.52 billion, a PE ratio of 13.43, a P/E/G ratio of 2.72 and a beta of 1.41. The company has a debt-to-equity ratio of 3.33, a current ratio of 2.75 and a quick ratio of 0.56. The business has a 50-day moving average of $68.06 and a two-hundred day moving average of $84.86. CarMax, Inc. has a 12 month low of $54.85 and a 12 month high of $152.28.

CarMax (NYSE:KMXGet Rating) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.61). The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.55 billion. CarMax had a return on equity of 14.95% and a net margin of 2.40%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 earnings per share. As a group, research analysts forecast that CarMax, Inc. will post 3.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Bank of America downgraded CarMax from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $146.00 to $100.00 in a research report on Friday, September 9th. Robert W. Baird reduced their target price on CarMax from $120.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, September 30th. Wedbush reduced their target price on CarMax to $67.00 in a research report on Thursday, November 17th. Stephens downgraded CarMax from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $105.00 to $64.00 in a research report on Monday, October 3rd. Finally, Oppenheimer reduced their target price on CarMax from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, September 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.80.

CarMax Profile

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CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

Further Reading

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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