CarMax, Inc. $KMX Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC raised its stake in CarMax, Inc. (NYSE:KMX) by 11.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,132 shares of the company’s stock after purchasing an additional 623 shares during the period. Resonant Capital Advisors LLC’s holdings in CarMax were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of KMX. Avior Wealth Management LLC grew its stake 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. Gagnon Securities LLC grew its stake in CarMax by 3.9% during the 2nd quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock worth $10,983,000 after buying an additional 6,067 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CarMax by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company’s stock valued at $1,571,000 after purchasing an additional 2,375 shares during the last quarter. Beaumont Asset Management L.L.C. purchased a new position in shares of CarMax in the 2nd quarter valued at approximately $520,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of CarMax in the 1st quarter valued at approximately $1,753,000.

Analysts Set New Price Targets

Several brokerages have weighed in on KMX. Morgan Stanley lowered their target price on CarMax from $80.00 to $56.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Stephens downgraded CarMax from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $53.00 to $42.00 in a research note on Tuesday, October 7th. Wall Street Zen downgraded CarMax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Truist Financial reduced their price target on CarMax from $74.00 to $47.00 and set a “hold” rating for the company in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. reduced their price target on 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 issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.75.

CarMax Price Performance

KMX stock opened at $45.06 on Tuesday. The stock has a 50-day moving average price of $52.84 and a two-hundred day moving average price of $60.25. CarMax, Inc. has a 12-month low of $42.34 and a 12-month high of $91.25. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. The company has a market cap of $6.62 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $7.07 billion. During the same period last year, the firm posted $0.85 EPS. CarMax’s revenue was down 6.0% on a year-over-year basis. As a group, research analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

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.