Chicago Partners Investment Group LLC Trims Stock Position in CarMax, Inc. (NYSE:KMX)

Chicago Partners Investment Group LLC lessened its stake in CarMax, Inc. (NYSE:KMX) by 26.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,708 shares of the company’s stock after selling 1,706 shares during the period. Chicago Partners Investment Group LLC’s holdings in CarMax were worth $339,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. First Pacific Advisors LP increased its holdings in CarMax by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock valued at $175,005,000 after purchasing an additional 47,184 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after purchasing an additional 51,397 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after purchasing an additional 1,369,986 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in CarMax by 21.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock valued at $121,479,000 after purchasing an additional 288,165 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in CarMax by 11.2% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,343,290 shares of the company’s stock valued at $98,517,000 after purchasing an additional 134,987 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on KMX. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Evercore ISI boosted their price target on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, October 17th. Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Friday, October 4th. Truist Financial boosted their price target on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.73.

CarMax Price Performance

Shares of KMX opened at $73.87 on Wednesday. CarMax, Inc. has a 1-year low of $61.73 and a 1-year high of $88.22. The stock has a market cap of $11.44 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 1.47 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. The firm has a fifty day moving average price of $76.35 and a 200 day moving average price of $75.00.

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 net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the firm earned $0.75 earnings per share. CarMax’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that CarMax, Inc. will post 2.99 EPS for the current year.

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.