IFM Investors Pty Ltd Trims Stake in CarMax, Inc. (NYSE:KMX)

IFM Investors Pty Ltd reduced its holdings in shares of CarMax, Inc. (NYSE:KMX) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,788 shares of the company’s stock after selling 787 shares during the period. IFM Investors Pty Ltd’s holdings in CarMax were worth $2,228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Community Trust NA bought a new stake in shares of CarMax during the 2nd quarter valued at $29,000. Quarry LP raised its position in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares during the period. Blue Trust Inc. raised its position in shares of CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the period. Studio Investment Management LLC raised its position in shares of CarMax by 176.7% during the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of CarMax during the 1st quarter valued at $55,000.

CarMax Stock Performance

Shares of NYSE:KMX opened at $72.00 on Monday. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The stock has a market capitalization of $11.24 billion, a P/E ratio of 28.13, a PEG ratio of 1.45 and a beta of 1.68. The firm has a fifty day simple moving average of $77.47 and a two-hundred day simple moving average of $74.85. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on KMX shares. Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. Truist Financial raised their price objective on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price target on shares of CarMax in a report on Wednesday, October 16th. StockNews.com upgraded shares of CarMax to a “sell” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $79.73.

CarMax Company 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.