Vision Capital Management Inc. Cuts Stake in CarMax, Inc. $KMX

Vision Capital Management Inc. trimmed its holdings in shares of CarMax, Inc. (NYSE:KMX) by 42.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,692 shares of the company’s stock after selling 19,629 shares during the period. Vision Capital Management Inc.’s holdings in CarMax were worth $1,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in shares of CarMax in the second quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new position in shares of CarMax during the second quarter valued at about $30,000. ST Germain D J Co. Inc. grew its stake in shares of CarMax by 88.5% in the third quarter. ST Germain D J Co. Inc. now owns 1,331 shares of the company’s stock worth $60,000 after purchasing an additional 625 shares during the last quarter. Mather Group LLC. purchased a new position in CarMax during the 3rd quarter valued at about $61,000. Finally, Hollencrest Capital Management raised its position in CarMax by 39.9% during the 2nd quarter. Hollencrest Capital Management now owns 1,052 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KMX. Stephens cut their price target on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, December 19th. Evercore ISI reissued a “reduce” rating and issued a $36.00 target price on shares of CarMax in a research report on Friday, December 19th. Bank of America raised their target price on CarMax from $27.00 to $31.00 and gave the company an “underperform” rating in a research note on Friday, December 19th. Truist Financial lifted their price target on CarMax from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Finally, Morgan Stanley set a $35.00 price objective on CarMax in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $39.36.

CarMax Stock Up 5.6%

Shares of NYSE:KMX opened at $43.23 on Thursday. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $89.47. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.98 and a beta of 1.29. The stock has a fifty day simple moving average of $38.15 and a two-hundred day simple moving average of $50.32. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74.

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

CarMax Profile

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.