Chicago Partners Investment Group LLC Increases Stock Position in CarMax, Inc. $KMX

Chicago Partners Investment Group LLC grew its stake in shares of CarMax, Inc. (NYSE:KMX) by 100.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,777 shares of the company’s stock after acquiring an additional 3,902 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in CarMax were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. WCM Investment Management LLC boosted its holdings in CarMax by 0.5% in the second quarter. WCM Investment Management LLC now owns 38,991 shares of the company’s stock worth $2,597,000 after purchasing an additional 197 shares during the last quarter. Nexus Investment Management ULC boosted its stake in shares of CarMax by 7.5% in the 2nd quarter. Nexus Investment Management ULC now owns 377,645 shares of the company’s stock worth $25,382,000 after buying an additional 26,200 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of CarMax in the 2nd quarter worth $677,000. Equitable Trust Co. boosted its stake in shares of CarMax by 52.3% in the 2nd quarter. Equitable Trust Co. now owns 12,009 shares of the company’s stock worth $807,000 after buying an additional 4,122 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of CarMax by 6.7% in the 2nd quarter. TD Asset Management Inc now owns 44,142 shares of the company’s stock worth $2,967,000 after buying an additional 2,761 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KMX. Evercore ISI reissued an “in-line” rating and issued a $52.00 target price (down from $80.00) on shares of CarMax in a research report on Friday, September 26th. Mizuho dropped their price objective on shares of CarMax from $78.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Seaport Res Ptn downgraded shares of CarMax from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 28th. Wedbush reissued a “neutral” rating and issued a $54.00 price objective on shares of CarMax in a report on Thursday, October 16th. Finally, Stephens cut CarMax from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $53.00 to $42.00 in a research report on Tuesday, October 7th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.75.

CarMax Price Performance

KMX stock opened at $43.79 on Thursday. CarMax, Inc. has a one year low of $42.34 and a one year high of $91.25. The company’s fifty day moving average price is $53.68 and its 200-day moving average price is $61.13. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. The company has a market capitalization of $6.43 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.85 and a beta of 1.27.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.39). The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.CarMax’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. On average, equities analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

CarMax 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.