KBC Group NV Decreases Holdings in CarMax, Inc. $KMX

KBC Group NV reduced its stake in CarMax, Inc. (NYSE:KMX) by 52.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 9,100 shares of the company’s stock after selling 10,043 shares during the quarter. KBC Group NV’s holdings in CarMax were worth $612,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. raised its position in CarMax by 626.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company’s stock worth $70,364,000 after acquiring an additional 778,652 shares during the period. Nuveen LLC bought a new stake in shares of CarMax in the 1st quarter worth approximately $33,872,000. Acadian Asset Management LLC lifted its stake in CarMax by 3,921.2% in the second quarter. Acadian Asset Management LLC now owns 375,862 shares of the company’s stock valued at $25,261,000 after purchasing an additional 366,515 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in CarMax in the second quarter valued at approximately $17,514,000. Finally, Philadelphia Financial Management of San Francisco LLC bought a new position in CarMax during the first quarter valued at $16,370,000.

CarMax Trading Down 6.6%

Shares of KMX opened at $32.14 on Tuesday. The business’s 50-day moving average price is $45.95 and its 200-day moving average price is $57.24. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $91.25. The stock has a market cap of $4.72 billion, a PE ratio of 9.43, a P/E/G ratio of 0.81 and a beta of 1.26.

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 firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the prior year, the firm posted $0.85 EPS. CarMax’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts forecast that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KMX shares. BNP Paribas Exane lowered their target price on CarMax from $52.00 to $35.00 and set an “underperform” rating on the stock in a research note on Friday, September 26th. Wedbush restated a “neutral” rating and issued a $54.00 price objective on shares of CarMax in a research note on Thursday, October 16th. Barclays assumed coverage on shares of CarMax in a research report on Tuesday, November 11th. They set an “underweight” rating and a $28.00 target price for the company. Wall Street Zen lowered shares of CarMax from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Finally, Robert W. Baird dropped their price target on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, CarMax has a consensus rating of “Reduce” and an average price target of $42.62.

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.