Primecap Management Co. CA Sells 177,540 Shares of CarMax, Inc. $KMX

Primecap Management Co. CA trimmed its position in CarMax, Inc. (NYSE:KMX) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,560,371 shares of the company’s stock after selling 177,540 shares during the period. Primecap Management Co. CA owned approximately 3.11% of CarMax worth $204,624,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. CYBER HORNET ETFs LLC bought a new position in CarMax in the 2nd quarter valued at about $28,000. MUFG Securities EMEA plc acquired a new position in shares of CarMax in the second quarter valued at approximately $30,000. Center for Financial Planning Inc. bought a new position in shares of CarMax during the third quarter worth approximately $31,000. Strengthening Families & Communities LLC increased its stake in shares of CarMax by 220.0% during the third quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock worth $39,000 after purchasing an additional 605 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in CarMax by 121.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 984 shares of the company’s stock worth $45,000 after purchasing an additional 539 shares during the last quarter.

CarMax Price Performance

Shares of KMX stock opened at $42.10 on Thursday. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $84.49. The company has a market cap of $5.97 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.03 and a beta of 1.35. The business has a fifty day simple moving average of $43.61 and a 200 day simple moving average of $45.95.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, December 18th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.31 by $0.12. The firm had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, sell-side analysts forecast that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KMX. Bank of America lifted their target price on CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a report on Friday, December 19th. Needham & Company LLC reissued a “hold” rating on shares of CarMax in a report on Friday, November 7th. Zacks Research raised shares of CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Barclays lifted their price target on shares of CarMax from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Wednesday, January 21st. Finally, Truist Financial raised their price objective on CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $39.21.

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.