Cerity Partners LLC Acquires 21,528 Shares of CarMax, Inc. (NYSE:KMX)

Cerity Partners LLC lifted its stake in CarMax, Inc. (NYSE:KMX) by 128.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,353 shares of the company’s stock after purchasing an additional 21,528 shares during the period. Cerity Partners LLC’s holdings in CarMax were worth $2,968,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. First Pacific Advisors LP grew its stake in CarMax by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after acquiring an additional 47,184 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CarMax by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after purchasing an additional 51,397 shares during the period. Vulcan Value Partners LLC raised its position in CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after purchasing an additional 1,369,986 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of CarMax by 21.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock worth $121,479,000 after buying an additional 288,165 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CarMax by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after buying an additional 436,342 shares in the last quarter.

CarMax Trading Down 0.7 %

Shares of NYSE:KMX opened at $83.97 on Friday. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The firm has a market capitalization of $13.01 billion, a P/E ratio of 31.57, a P/E/G ratio of 1.72 and a beta of 1.68. The business’s 50-day moving average is $75.93 and its 200 day moving average is $76.20. CarMax, Inc. has a 1 year low of $62.90 and a 1 year high of $88.22.

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

Analyst Ratings Changes

A number of research firms recently weighed in on KMX. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Truist Financial upped their price target on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Evercore ISI boosted their price objective on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.73.

About CarMax

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.