M&T Bank Corp decreased its stake in CarMax Inc. (NYSE:KMX) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,873 shares of the company’s stock after selling 2,248 shares during the period. M&T Bank Corp’s holdings in CarMax were worth $3,676,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Toronto Dominion Bank raised its stake in shares of CarMax by 421.6% in the third quarter. Toronto Dominion Bank now owns 5,612 shares of the company’s stock valued at $299,000 after buying an additional 4,536 shares in the last quarter. Decatur Capital Management Inc. raised its stake in shares of CarMax by 2.8% in the third quarter. Decatur Capital Management Inc. now owns 131,900 shares of the company’s stock valued at $7,037,000 after buying an additional 3,600 shares in the last quarter. Aperio Group LLC raised its stake in shares of CarMax by 23.4% in the third quarter. Aperio Group LLC now owns 81,183 shares of the company’s stock valued at $4,331,000 after buying an additional 15,383 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of CarMax during the third quarter valued at approximately $201,000. Finally, Quantitative Investment Management LLC bought a new stake in shares of CarMax during the third quarter valued at approximately $2,886,000.

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

Shares of CarMax Inc. (NYSE:KMX) traded up 0.49% on Wednesday, reaching $57.79. 1,408,609 shares of the company’s stock traded hands. CarMax Inc. has a 52 week low of $41.25 and a 52 week high of $60.81. The company has a 50 day moving average price of $52.76 and a 200 day moving average price of $54.01. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 18.79 and a beta of 1.24.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.11 billion. CarMax had a net margin of 3.95% and a return on equity of 20.92%. CarMax’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. On average, equities research analysts predict that CarMax Inc. will post $3.27 earnings per share for the current fiscal year.

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Several brokerages recently commented on KMX. Wedbush reiterated a “neutral” rating and set a $55.00 price target on shares of CarMax in a research note on Wednesday, November 16th. Deutsche Bank AG upgraded shares of CarMax from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $68.00 in a research note on Monday, October 24th. Oppenheimer Holdings Inc. restated an “outperform” rating on shares of CarMax in a research note on Sunday, October 16th. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Thursday, October 6th. Finally, Goldman Sachs Group Inc. set a $63.00 price objective on shares of CarMax and gave the company a “buy” rating in a research note on Monday, September 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $62.16.

In related news, Director Jeffrey E. Garten sold 6,300 shares of CarMax stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $53.41, for a total value of $336,483.00. Following the sale, the director now directly owns 21,552 shares in the company, valued at approximately $1,151,092.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

CarMax Company Profile

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

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