Oakview Capital Management L.P. Cuts Stake in CarMax, Inc. (NYSE:KMX)

Oakview Capital Management L.P. decreased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 13.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,614 shares of the company’s stock after selling 2,759 shares during the quarter. CarMax accounts for about 6.3% of Oakview Capital Management L.P.’s investment portfolio, making the stock its 9th biggest position. Oakview Capital Management L.P.’s holdings in CarMax were worth $1,363,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KMX. Vulcan Value Partners LLC lifted its holdings in shares of CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after buying an additional 1,369,986 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of CarMax by 3,094.0% in the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after acquiring an additional 577,685 shares in the last quarter. Marshall Wace LLP lifted its stake in CarMax by 87.6% in the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after acquiring an additional 541,967 shares during the period. AQR Capital Management LLC grew its holdings in CarMax by 212.8% during the 2nd quarter. AQR Capital Management LLC now owns 488,836 shares of the company’s stock worth $35,851,000 after acquiring an additional 332,574 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in CarMax by 110.0% during the 2nd quarter. Natixis Advisors LLC now owns 563,608 shares of the company’s stock valued at $41,335,000 after purchasing an additional 295,271 shares during the period.

CarMax Trading Down 2.3 %

Shares of CarMax stock opened at $75.29 on Wednesday. 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, Inc. has a 12-month low of $62.90 and a 12-month high of $88.22. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.59 and a beta of 1.68. The firm’s 50 day simple moving average is $75.07 and its two-hundred day simple moving average is $75.61.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that CarMax, Inc. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KMX. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price target on shares of CarMax in a report on Wednesday, October 16th. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a report on Friday, September 27th. Wedbush restated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.73.

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.