Geode Capital Management LLC Sells 859,157 Shares of CarMax, Inc. $KMX

Geode Capital Management LLC decreased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 25.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,557,859 shares of the company’s stock after selling 859,157 shares during the period. Geode Capital Management LLC owned 1.80% of CarMax worth $98,857,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares during the last quarter. Empowered Funds LLC boosted its stake in CarMax by 12.5% during the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock valued at $411,000 after purchasing an additional 585 shares during the last quarter. Intech Investment Management LLC boosted its stake in CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after purchasing an additional 7,307 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in CarMax during the 1st quarter valued at $727,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KMX shares. JPMorgan Chase & Co. raised their price target on CarMax from $28.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 15th. Bank of America began coverage on CarMax in a report on Wednesday, April 15th. They issued an “underperform” rating and a $40.00 target price on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $41.00 target price on shares of CarMax in a report on Wednesday, April 15th. Wall Street Zen cut CarMax from a “hold” rating to a “sell” rating in a report on Sunday, May 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a report on Wednesday, April 8th. One research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $41.27.

CarMax Price Performance

NYSE:KMX opened at $47.19 on Friday. The company has a quick ratio of 0.49, a current ratio of 2.20 and a debt-to-equity ratio of 2.93. The business’s 50-day simple moving average is $41.00 and its two-hundred day simple moving average is $41.60. The stock has a market cap of $6.69 billion, a PE ratio of 29.49, a P/E/G ratio of 1.79 and a beta of 1.21. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $71.99.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. The business had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.65 billion. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. As a group, analysts forecast that CarMax, Inc. will post 2.3 EPS for the current fiscal year.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.