Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in CarMax, Inc. $KMX

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of CarMax, Inc. (NYSE:KMX) by 55.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 561,555 shares of the company’s stock after purchasing an additional 200,024 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.37% of CarMax worth $37,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of CarMax by 6.7% in the first quarter. CWM LLC now owns 40,177 shares of the company’s stock worth $3,131,000 after buying an additional 2,516 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in CarMax in the 1st quarter worth approximately $8,822,000. Graybill Wealth Management LTD. purchased a new stake in CarMax in the 1st quarter worth approximately $2,574,000. Banyan Capital Management Inc. grew its stake in shares of CarMax by 1.3% during the 1st quarter. Banyan Capital Management Inc. now owns 132,349 shares of the company’s stock worth $10,313,000 after purchasing an additional 1,710 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of CarMax by 7.1% during the 1st quarter. Victory Capital Management Inc. now owns 57,667 shares of the company’s stock valued at $4,493,000 after purchasing an additional 3,808 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on KMX shares. Truist Financial lowered their price target on shares of CarMax from $47.00 to $35.00 and set a “hold” rating on the stock in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research note on Tuesday, October 14th. Benchmark lowered CarMax from a “buy” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of CarMax in a research report on Friday. Finally, Wedbush reissued a “neutral” rating and issued a $54.00 price objective on shares of CarMax in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.58.

CarMax Stock Up 4.6%

Shares of NYSE KMX opened at $32.31 on Monday. The stock has a market cap of $4.74 billion, a PE ratio of 9.48, a P/E/G ratio of 0.81 and a beta of 1.26. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $91.25. The company has a 50-day moving average of $49.17 and a 200 day moving average of $58.57.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that CarMax, Inc. will post 3.23 EPS 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.