Cannell & Spears LLC Sells 265,164 Shares of CarMax, Inc. $KMX

Cannell & Spears LLC lessened its stake in shares of CarMax, Inc. (NYSE:KMX) by 85.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,761 shares of the company’s stock after selling 265,164 shares during the quarter. Cannell & Spears LLC’s holdings in CarMax were worth $1,964,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new position in shares of CarMax in the 2nd quarter valued at $28,000. MUFG Securities EMEA plc purchased a new stake in shares of CarMax during the 2nd quarter worth $30,000. Center for Financial Planning Inc. bought a new stake in CarMax during the third quarter valued at about $31,000. Strengthening Families & Communities LLC boosted its position in CarMax by 220.0% during the third quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock valued at $39,000 after purchasing an additional 605 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in CarMax by 121.1% in the third quarter. Smartleaf Asset Management LLC now owns 984 shares of the company’s stock valued at $45,000 after purchasing an additional 539 shares during the last quarter.

CarMax Trading Up 2.1%

CarMax stock opened at $41.86 on Monday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. The stock has a market cap of $5.94 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.99 and a beta of 1.35. The stock has a 50-day moving average of $44.39 and a two-hundred day moving average of $44.47. CarMax, Inc. has a one year low of $30.26 and a one year high of $82.79.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The business had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The company’s revenue was down 6.9% on a year-over-year basis. On average, research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

KMX has been the subject of a number of recent research reports. Wedbush reduced their target price on shares of CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Stephens lowered their price target on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, December 19th. Evercore set a $42.00 price objective on shares of CarMax in a research report on Tuesday, February 10th. Mizuho reduced their price objective on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, CarMax currently has an average rating of “Reduce” and a consensus target price of $39.21.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.