CarMax, Inc. $KMX Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lifted its position in CarMax, Inc. (NYSE:KMX) by 26.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,279 shares of the company’s stock after acquiring an additional 18,179 shares during the period. Steward Partners Investment Advisory LLC owned 0.06% of CarMax worth $5,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of CarMax in the second quarter worth about $5,758,000. Hantz Financial Services Inc. increased its holdings in CarMax by 45.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock worth $12,893,000 after buying an additional 59,840 shares during the period. Avior Wealth Management LLC raised its position in CarMax by 6,129.3% during the 2nd quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock worth $628,000 after buying an additional 9,194 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in CarMax during the 2nd quarter worth approximately $1,887,000. Finally, Gagnon Securities LLC lifted its stake in CarMax by 3.9% during the 2nd quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock valued at $10,983,000 after acquiring an additional 6,067 shares during the period.

CarMax Trading Up 1.9%

Shares of CarMax stock opened at $38.23 on Thursday. The firm has a 50-day simple moving average of $42.47 and a two-hundred day simple moving average of $55.79. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $91.25. The company has a market cap of $5.61 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26.

CarMax (NYSE:KMX) last announced its quarterly earnings results 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). The business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. CarMax’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, equities analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KMX shares. Morgan Stanley reiterated an “equal weight” rating and issued a $35.00 price objective (down previously from $56.00) on shares of CarMax in a research note on Monday, November 10th. Robert W. Baird lowered their price target on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a research report on Tuesday, October 14th. Zacks Research cut CarMax from a “hold” rating to a “strong sell” rating in a report on Thursday, October 2nd. Finally, William Blair downgraded CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $41.54.

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.