KLP Kapitalforvaltning AS Has $2.13 Million Stock Position in CarMax, Inc. $KMX

KLP Kapitalforvaltning AS lowered its stake in CarMax, Inc. (NYSE:KMX) by 44.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,700 shares of the company’s stock after selling 25,756 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in CarMax were worth $2,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of CarMax in the first quarter valued at about $27,000. Accent Capital Management LLC acquired a new stake in shares of CarMax in the first quarter valued at about $34,000. Strengthening Families & Communities LLC increased its position in shares of CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after acquiring an additional 256 shares during the last quarter. Quarry LP increased its position in shares of CarMax by 50.5% in the first quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after acquiring an additional 233 shares during the last quarter. Finally, Blue Trust Inc. increased its position in CarMax by 49.2% during the first quarter. Blue Trust Inc. now owns 898 shares of the company’s stock worth $70,000 after buying an additional 296 shares during the last quarter.

CarMax Price Performance

CarMax stock opened at $43.09 on Monday. CarMax, Inc. has a 12 month low of $42.75 and a 12 month high of $91.25. The stock’s 50 day moving average is $55.65 and its 200-day moving average is $62.81. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.82 and a beta of 1.27.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the company posted $0.85 EPS. CarMax’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts expect that CarMax, Inc. will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of recent analyst reports. Wedbush downgraded CarMax from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $84.00 to $54.00 in a research report on Thursday, September 25th. Robert W. Baird lowered their price target on CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Benchmark lowered their price target on CarMax from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Truist Financial lowered their price target on CarMax from $74.00 to $47.00 and set a “hold” rating on the stock in a research report on Friday, September 26th. Finally, Zacks Research downgraded CarMax from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.42.

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.