Verition Fund Management LLC Cuts Stock Position in CarMax, Inc. (NYSE:KMX)

Verition Fund Management LLC lowered its stake in CarMax, Inc. (NYSE:KMX) by 74.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,987 shares of the company’s stock after selling 157,265 shares during the quarter. Verition Fund Management LLC’s holdings in CarMax were worth $4,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KMX. Tidal Investments LLC purchased a new stake in shares of CarMax in the 1st quarter worth approximately $382,000. Cetera Advisors LLC lifted its position in CarMax by 48.7% in the 1st quarter. Cetera Advisors LLC now owns 9,178 shares of the company’s stock valued at $799,000 after acquiring an additional 3,004 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in CarMax by 1.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,039 shares of the company’s stock valued at $2,682,000 after acquiring an additional 498 shares in the last quarter. DNB Asset Management AS lifted its position in CarMax by 20.7% in the 2nd quarter. DNB Asset Management AS now owns 26,838 shares of the company’s stock valued at $1,968,000 after acquiring an additional 4,606 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in CarMax by 4.4% in the 2nd quarter. Park Avenue Securities LLC now owns 14,775 shares of the company’s stock valued at $1,084,000 after acquiring an additional 621 shares in the last quarter.

CarMax Trading Up 1.3 %

NYSE:KMX opened at $84.22 on Wednesday. CarMax, Inc. has a one year low of $64.72 and a one year high of $88.22. 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 market capitalization of $13.05 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 1.69 and a beta of 1.71. The business has a fifty day moving average price of $76.06 and a 200-day moving average price of $76.28.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. BNP Paribas raised CarMax to a “strong sell” rating in a report on Friday, September 27th. Truist Financial increased their price target on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Wedbush reissued an “outperform” rating and set a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.09.

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.