Welch & Forbes LLC Has $57.70 Million Position in CarMax, Inc. $KMX

Welch & Forbes LLC lowered its position in CarMax, Inc. (NYSE:KMX) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 858,471 shares of the company’s stock after selling 15,292 shares during the quarter. Welch & Forbes LLC’s holdings in CarMax were worth $57,698,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KMX. Zions Bancorporation National Association UT acquired a new stake in CarMax in the first quarter valued at $27,000. Accent Capital Management LLC acquired a new stake in CarMax in the first quarter valued at $34,000. Strengthening Families & Communities LLC lifted its stake in CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after acquiring an additional 256 shares during the last quarter. Quarry LP lifted its stake in CarMax by 50.5% in the first quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after acquiring an additional 233 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in CarMax by 25.8% in the second quarter. Blue Trust Inc. now owns 1,130 shares of the company’s stock valued at $76,000 after acquiring an additional 232 shares during the last quarter.

CarMax Price Performance

Shares of CarMax stock opened at $41.98 on Friday. CarMax, Inc. has a twelve month low of $41.13 and a twelve month high of $91.25. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The company has a 50-day simple moving average of $51.55 and a two-hundred day simple moving average of $59.56. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.81 and a beta of 1.27.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.64 earnings per share 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 business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter last year, the firm earned $0.85 EPS. CarMax’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KMX shares. Needham & Company LLC cut their price target on shares of CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Zacks Research cut shares of CarMax from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada cut their target price on shares of CarMax from $81.00 to $59.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Wall Street Zen cut shares of CarMax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.75.

About CarMax

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.