Sumitomo Mitsui Trust Group Inc. Sells 50,848 Shares of CarMax, Inc. $KMX

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of CarMax, Inc. (NYSE:KMX) by 87.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,131 shares of the company’s stock after selling 50,848 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CarMax were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. MGO One Seven LLC boosted its position in CarMax by 19.2% in the third quarter. MGO One Seven LLC now owns 10,629 shares of the company’s stock worth $477,000 after purchasing an additional 1,711 shares during the last quarter. Nexus Investment Management ULC raised its stake in shares of CarMax by 18.8% during the 3rd quarter. Nexus Investment Management ULC now owns 448,710 shares of the company’s stock worth $20,134,000 after purchasing an additional 71,065 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of CarMax in the 3rd quarter worth about $461,000. New York State Teachers Retirement System grew its position in CarMax by 11.8% during the third quarter. New York State Teachers Retirement System now owns 138,097 shares of the company’s stock valued at $6,196,000 after buying an additional 14,532 shares during the period. Finally, Lakewood Asset Management LLC increased its holdings in CarMax by 2.4% during the third quarter. Lakewood Asset Management LLC now owns 29,907 shares of the company’s stock worth $1,342,000 after buying an additional 705 shares during the last quarter.

CarMax Price Performance

Shares of NYSE KMX opened at $47.44 on Wednesday. The stock has a market cap of $6.73 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $89.47. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. The stock has a fifty day moving average of $39.83 and a 200-day moving average of $48.81.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 EPS. Equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. Mizuho reduced their price objective on CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research note on Friday, January 9th. Morgan Stanley set a $35.00 price target on CarMax in a research note on Monday, December 8th. Finally, Royal Bank Of Canada lifted their price objective on CarMax from $34.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, CarMax presently has a consensus rating of “Reduce” and an average price target of $39.36.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.