CarMax, Inc. (NYSE:KMX) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc trimmed its stake in CarMax, Inc. (NYSE:KMX) by 81.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,386 shares of the company’s stock after selling 10,555 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in CarMax were worth $185,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KMX. Headlands Technologies LLC purchased a new position in shares of CarMax during the first quarter valued at $55,000. State Board of Administration of Florida Retirement System grew its holdings in shares of CarMax by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock valued at $16,238,000 after buying an additional 17,557 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of CarMax by 10.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 178,325 shares of the company’s stock valued at $15,534,000 after buying an additional 17,350 shares in the last quarter. HBK Sorce Advisory LLC purchased a new position in shares of CarMax during the first quarter valued at $266,000. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of CarMax by 5.2% during the first quarter. Orion Portfolio Solutions LLC now owns 38,031 shares of the company’s stock valued at $3,313,000 after buying an additional 1,864 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KMX. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 price target on shares of CarMax in a report on Wednesday, October 16th. Truist Financial lifted their price target on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. StockNews.com raised CarMax to a “sell” rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their price objective on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, October 17th. Four 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 company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $79.73.

CarMax Price Performance

Shares of NYSE:KMX opened at $78.03 on Friday. CarMax, Inc. has a fifty-two week low of $62.76 and a fifty-two week high of $88.22. The business has a 50-day moving average of $75.18 and a two-hundred day moving average of $75.39. The stock has a market capitalization of $12.09 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.58 and a beta of 1.68. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm earned $0.75 EPS. CarMax’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts predict that CarMax, Inc. will post 2.99 EPS for the current fiscal year.

CarMax Company 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.