Chevy Chase Trust Holdings LLC Lowers Stock Position in CarMax, Inc. $KMX

Chevy Chase Trust Holdings LLC cut its stake in shares of CarMax, Inc. (NYSE:KMX) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,463 shares of the company’s stock after selling 1,174 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of CarMax worth $5,408,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in shares of CarMax by 6,129.3% during the 2nd quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock valued at $628,000 after acquiring an additional 9,194 shares in the last quarter. Gagnon Securities LLC lifted its holdings in shares of CarMax by 3.9% during the 2nd quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock valued at $10,983,000 after acquiring an additional 6,067 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of CarMax by 13.0% during 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 acquiring an additional 2,375 shares in the last quarter. Beaumont Asset Management L.L.C. acquired a new position in shares of CarMax during the 2nd quarter valued at $520,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of CarMax during the 1st quarter valued at $1,753,000.

Analyst Upgrades and Downgrades

KMX has been the topic of several recent research reports. Oppenheimer restated a “market perform” rating on shares of CarMax in a report on Friday, September 26th. Evercore ISI restated an “in-line” rating and set a $52.00 target price (down previously from $80.00) on shares of CarMax in a report on Friday, September 26th. Wedbush restated a “neutral” rating and set a $54.00 target price on shares of CarMax in a report on Thursday, October 16th. Morgan Stanley reduced their target price on shares of CarMax from $80.00 to $56.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, Truist Financial cut their price objective on shares of CarMax from $74.00 to $47.00 and set a “hold” rating on the stock in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.75.

CarMax Stock Performance

Shares of KMX stock opened at $43.07 on Tuesday. CarMax, Inc. has a 12 month low of $42.34 and a 12 month high of $91.25. 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 capitalization of $6.32 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.82 and a beta of 1.27. The company’s fifty day moving average price is $54.21 and its two-hundred day moving average price is $61.36.

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