PNC Financial Services Group Inc. Cuts Stake in CarMax, Inc. (NYSE:KMX)

PNC Financial Services Group Inc. trimmed its position in shares of CarMax, Inc. (NYSE:KMX) by 8.1% in the 3rd quarter, Holdings Channel reports. The firm owned 77,471 shares of the company’s stock after selling 6,795 shares during the period. PNC Financial Services Group Inc.’s holdings in CarMax were worth $5,995,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Pacific Advisors LP increased its holdings in shares of CarMax by 2.0% in the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock valued at $175,005,000 after purchasing an additional 47,184 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after acquiring an additional 51,397 shares during the last quarter. Vulcan Value Partners LLC raised its holdings in shares of CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after acquiring an additional 1,369,986 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of CarMax by 21.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock valued at $121,479,000 after acquiring an additional 288,165 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its holdings in CarMax by 11.2% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,343,290 shares of the company’s stock valued at $98,517,000 after acquiring an additional 134,987 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have commented on KMX shares. Oppenheimer restated an “outperform” rating and set a $105.00 price target on shares of CarMax in a research note on Friday, October 4th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of CarMax in a research note on Wednesday, October 16th. BNP Paribas raised CarMax to a “strong sell” rating in a report on Friday, September 27th. Evercore ISI upped their price target on shares of CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, October 17th. Finally, Truist Financial raised their target price on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Hold” and a consensus price target of $79.73.

CarMax Stock Up 1.2 %

CarMax stock opened at $81.60 on Friday. CarMax, Inc. has a 52 week low of $62.90 and a 52 week high of $88.22. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.64 and a beta of 1.68. The company’s 50-day moving average price is $75.24 and its two-hundred day moving average price is $75.78. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93.

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

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.