Riverwater Partners LLC Cuts Stake in CarMax, Inc. (NYSE:KMX)

Riverwater Partners LLC reduced its position in CarMax, Inc. (NYSE:KMX) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,091 shares of the company’s stock after selling 265 shares during the period. Riverwater Partners LLC’s holdings in CarMax were worth $535,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First Community Trust NA bought a new stake in shares of CarMax in the 2nd quarter worth about $29,000. Quarry LP lifted its position in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares during the last quarter. Blue Trust Inc. increased its stake in CarMax by 134.1% in the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares during the period. Studio Investment Management LLC boosted its position in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after buying an additional 334 shares during the period. Finally, Headlands Technologies LLC bought a new position in CarMax in the first quarter worth approximately $55,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KMX. Evercore ISI lifted their price objective on shares of CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of CarMax in a research report on Friday, October 4th. Truist Financial raised their price objective on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. BNP Paribas upgraded CarMax to a “strong sell” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. boosted their price target on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.73.

Insiders Place Their Bets

In other news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.66% of the stock is currently owned by company insiders.

CarMax Stock Up 0.7 %

KMX opened at $72.00 on Thursday. The company has a fifty day moving average of $77.77 and a two-hundred day moving average of $75.04. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. On average, research analysts expect that CarMax, Inc. will post 2.97 earnings per share for the current year.

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.