CarMax, Inc. (NYSE:KMX) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC reduced its position in shares of CarMax, Inc. (NYSE:KMX) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,472,217 shares of the company’s stock after selling 128,988 shares during the period. Kovitz Investment Group Partners LLC’s holdings in CarMax were worth $113,504,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Baker Tilly Wealth Management LLC lifted its position in shares of CarMax by 4.6% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock worth $217,000 after purchasing an additional 130 shares in the last quarter. Peoples Bank KS increased its stake in shares of CarMax by 10.0% in the second quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock worth $108,000 after buying an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of CarMax by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock worth $456,000 after buying an additional 142 shares during the last quarter. Allegheny Financial Group LTD increased its stake in shares of CarMax by 4.1% in the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after buying an additional 143 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its stake in CarMax by 1.6% during the third quarter. Sompo Asset Management Co. Ltd. now owns 10,602 shares of the company’s stock valued at $820,000 after purchasing an additional 170 shares during the last quarter.

CarMax Price Performance

Shares of NYSE KMX opened at $84.58 on Friday. CarMax, Inc. has a twelve month low of $65.38 and a twelve month high of $88.22. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.71 and a beta of 1.71. The firm has a 50-day moving average of $76.53 and a two-hundred day moving average of $76.47.

CarMax (NYSE:KMX) last issued 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 net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the company posted $0.75 earnings per share. CarMax’s revenue was down .9% compared to the same quarter last year. As a group, analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on KMX. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. boosted their target price on shares of CarMax from $65.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Oppenheimer restated an “outperform” rating and set a $105.00 price target on shares of CarMax in a research report on Friday, October 4th. Finally, Evercore ISI upped their price target on shares of CarMax from $81.00 to $83.00 and gave the stock an “in-line” rating in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $81.00.

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.