Beaumont Asset Management L.L.C. Takes Position in CarMax, Inc. $KMX

Beaumont Asset Management L.L.C. bought a new stake in shares of CarMax, Inc. (NYSE:KMX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,732 shares of the company’s stock, valued at approximately $520,000.

Other hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC grew its stake in shares of CarMax by 6,129.3% during the second quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock valued at $628,000 after buying an additional 9,194 shares during the last quarter. Gagnon Securities LLC grew its stake in shares of CarMax by 3.9% during the second quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock valued at $10,983,000 after buying an additional 6,067 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CarMax by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company’s stock valued at $1,571,000 after buying an additional 2,375 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of CarMax during the first quarter valued at approximately $1,753,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock valued at $262,000 after buying an additional 176 shares during the last quarter.

CarMax Stock Performance

Shares of KMX opened at $44.34 on Thursday. CarMax, Inc. has a 12 month low of $42.75 and a 12 month high of $91.25. The stock has a fifty day moving average price of $56.16 and a 200-day moving average price of $63.41. 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 firm has a market cap of $6.51 billion, a PE ratio of 13.00, a P/E/G ratio of 0.84 and a beta of 1.27.

CarMax (NYSE:KMX) last issued its quarterly earnings data 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 business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on KMX. JPMorgan Chase & Co. dropped their price objective on CarMax from $65.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, September 26th. Wedbush cut CarMax from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $84.00 to $54.00 in a research note on Thursday, September 25th. Truist Financial dropped their price objective on CarMax from $74.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Oppenheimer reissued a “market perform” rating on shares of CarMax in a research note on Friday, September 26th. Finally, Evercore ISI reissued an “in-line” rating and issued a $52.00 price objective (down previously from $80.00) on shares of CarMax in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.42.

CarMax Company 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.