Long Road Investment Counsel LLC Sells 51,800 Shares of CarMax, Inc. $KMX

Long Road Investment Counsel LLC reduced its position in shares of CarMax, Inc. (NYSE:KMX) by 66.3% in the 3rd quarter, Holdings Channel reports. The firm owned 26,280 shares of the company’s stock after selling 51,800 shares during the period. Long Road Investment Counsel LLC’s holdings in CarMax were worth $1,179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of CarMax during the 2nd quarter worth $208,144,000. AQR Capital Management LLC boosted its stake in CarMax by 195.3% in the second quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock valued at $298,107,000 after buying an additional 2,947,996 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in CarMax by 1,410.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,028,718 shares of the company’s stock valued at $136,350,000 after acquiring an additional 1,894,408 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in CarMax by 795.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,846,406 shares of the company’s stock worth $124,097,000 after acquiring an additional 1,640,219 shares in the last quarter. Finally, Vulcan Value Partners LLC raised its stake in CarMax by 135.2% during the third quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company’s stock worth $104,569,000 after acquiring an additional 1,338,134 shares in the last quarter.

Wall Street Analyst Weigh In

KMX has been the topic of a number of research analyst reports. Mizuho reduced their price target on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Morgan Stanley set a $35.00 price objective on shares of CarMax in a research report on Monday, December 8th. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research note on Friday, January 9th. JPMorgan Chase & Co. cut their target price on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Finally, Evercore set a $42.00 target price on shares of CarMax in a research note on Tuesday, February 10th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CarMax presently has an average rating of “Reduce” and a consensus price target of $39.21.

CarMax Stock Performance

NYSE:KMX opened at $41.70 on Tuesday. The stock’s 50-day moving average is $44.42 and its 200-day moving average is $44.32. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $82.79. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. The stock has a market cap of $5.91 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.99 and a beta of 1.35.

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, beating analysts’ consensus estimates of $0.31 by $0.12. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The business had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business earned $0.81 EPS. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. Equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

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.