CarMax, Inc. (NYSE:KMX) Position Reduced by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,486 shares of the company’s stock after selling 452 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CarMax were worth $502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KMX. Baker Tilly Wealth Management LLC increased its holdings in CarMax by 4.6% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock valued at $217,000 after buying an additional 130 shares during the last quarter. Peoples Bank KS increased its holdings in shares of CarMax by 10.0% in the 2nd quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock valued at $108,000 after acquiring an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of CarMax by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock valued at $456,000 after acquiring an additional 142 shares in the last quarter. Allegheny Financial Group LTD lifted its stake in CarMax by 4.1% during the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after purchasing an additional 143 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in CarMax by 12.5% in the third quarter. Signaturefd LLC now owns 1,545 shares of the company’s stock worth $120,000 after purchasing an additional 172 shares during the period.

CarMax Price Performance

Shares of NYSE KMX opened at $75.29 on Wednesday. The stock has a market cap of $11.66 billion, a P/E ratio of 28.30, a P/E/G ratio of 1.59 and a beta of 1.68. The firm’s 50-day simple moving average is $75.07 and its 200 day simple moving average is $75.61. CarMax, Inc. has a fifty-two week low of $62.90 and a fifty-two week high of $88.22. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. Equities analysts expect that CarMax, Inc. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

KMX has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 target price on shares of CarMax in a report on Wednesday, October 16th. Evercore ISI raised their target price on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, October 17th. BNP Paribas raised CarMax to a “strong sell” rating in a report on Friday, September 27th. Wedbush reiterated an “outperform” rating and set a $95.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded CarMax to a “sell” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $79.73.

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.