CarMax, Inc. (NYSE:KMX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in CarMax, Inc. (NYSE:KMX) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,770 shares of the company’s stock after selling 23,794 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.14% of CarMax worth $16,309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KMX. First Community Trust NA acquired a new stake in CarMax in the second quarter valued at $29,000. Quarry LP grew its stake in CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after acquiring an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in CarMax during the 3rd quarter valued at about $32,000. Blue Trust Inc. raised its position in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares during the last quarter. Finally, Studio Investment Management LLC lifted its holdings in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares in the last quarter.

Wall Street Analysts Forecast Growth

KMX has been the subject of a number of recent research reports. Truist Financial raised their price objective on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Evercore ISI boosted their price target on CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, CarMax presently has a consensus rating of “Hold” and an average price target of $79.73.

CarMax Trading Down 0.7 %

Shares of KMX stock opened at $83.97 on Monday. The firm’s 50-day simple moving average is $75.93 and its 200-day simple moving average is $76.20. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. CarMax, Inc. has a 1-year low of $62.90 and a 1-year high of $88.22. The firm has a market cap of $13.01 billion, a P/E ratio of 31.57, a PEG ratio of 1.71 and a beta of 1.68.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share 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 company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts forecast that CarMax, Inc. will post 2.99 EPS for the current 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.