Parcion Private Wealth LLC Makes New Investment in CarMax, Inc. $KMX

Parcion Private Wealth LLC acquired a new stake in shares of CarMax, Inc. (NYSE:KMX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,490 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of CarMax by 12.6% in the 1st quarter. GAMMA Investing LLC now owns 6,620 shares of the company’s stock valued at $516,000 after acquiring an additional 742 shares in the last quarter. Janney Montgomery Scott LLC grew its position in CarMax by 2.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,143 shares of the company’s stock worth $1,258,000 after purchasing an additional 380 shares in the last quarter. State of Alaska Department of Revenue raised its stake in CarMax by 2.0% during the 1st quarter. State of Alaska Department of Revenue now owns 18,022 shares of the company’s stock valued at $1,404,000 after purchasing an additional 355 shares during the period. Blue Trust Inc. lifted its holdings in shares of CarMax by 49.2% in the first quarter. Blue Trust Inc. now owns 898 shares of the company’s stock valued at $70,000 after purchasing an additional 296 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of CarMax by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 44,845 shares of the company’s stock valued at $3,494,000 after purchasing an additional 2,050 shares in the last quarter.

CarMax Stock Performance

Shares of KMX stock opened at $43.79 on Thursday. CarMax, Inc. has a fifty-two week low of $42.34 and a fifty-two week high of $91.25. The stock’s 50-day moving average is $53.68 and its two-hundred day moving average is $61.13. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06. The firm has a market cap of $6.43 billion, a P/E ratio of 12.84, a PEG ratio of 0.85 and a beta of 1.27.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a report on Tuesday, October 14th. Mizuho decreased their price objective on CarMax from $78.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Royal Bank Of Canada dropped their target price on CarMax from $81.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, September 26th. Zacks Research lowered shares of CarMax from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of CarMax from $65.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, CarMax has a consensus rating of “Hold” and an average target price of $51.75.

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.