United Capital Financial Advisers LLC raised its holdings in shares of CarMax, Inc. (NYSE:KMX – Get Rating) by 45.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in CarMax by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 291,866 shares of the company’s stock worth $26,408,000 after buying an additional 27,181 shares during the last quarter. AlphaCrest Capital Management LLC lifted its holdings in CarMax by 63.9% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 28,577 shares of the company’s stock worth $2,586,000 after buying an additional 11,144 shares during the last quarter. Cetera Investment Advisers lifted its holdings in CarMax by 47.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,906 shares of the company’s stock worth $444,000 after buying an additional 1,586 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in CarMax by 12.8% during the 2nd quarter. Cetera Advisor Networks LLC now owns 31,465 shares of the company’s stock worth $2,847,000 after buying an additional 3,581 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in CarMax by 14.9% during the 2nd quarter. Bridgewater Associates LP now owns 114,712 shares of the company’s stock worth $10,379,000 after buying an additional 14,883 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on KMX. Stephens downgraded CarMax from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $105.00 to $64.00 in a report on Monday, October 3rd. StockNews.com began coverage on CarMax in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Morgan Stanley cut their price target on CarMax from $124.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 4th. Bank of America downgraded CarMax from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $146.00 to $100.00 in a report on Friday, September 9th. Finally, Evercore ISI cut their price target on CarMax from $90.00 to $73.00 in a report on Friday, September 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $83.80.
CarMax Stock Down 0.8 %
CarMax (NYSE:KMX – Get Rating) last issued its quarterly earnings results on Thursday, September 29th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.61). CarMax had a net margin of 2.40% and a return on equity of 14.95%. The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.55 billion. During the same quarter last year, the business posted $1.72 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that CarMax, Inc. will post 3.92 earnings per share for the current fiscal year.
CarMax Company Profile
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.
- Get a free copy of the StockNews.com research report on CarMax (KMX)
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