Sompo Asset Management Co. Ltd. Increases Position in CarMax, Inc. (NYSE:KMX)

Sompo Asset Management Co. Ltd. grew its holdings in CarMax, Inc. (NYSE:KMX) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,602 shares of the company’s stock after purchasing an additional 170 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in CarMax were worth $820,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. First Community Trust NA purchased a new position in CarMax during the second quarter worth approximately $29,000. Quarry LP increased its stake in shares of CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of CarMax during the 3rd quarter worth $32,000. Blue Trust Inc. boosted its position in shares of CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the last quarter. Finally, Studio Investment Management LLC boosted its position in shares of CarMax by 176.7% during the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after acquiring an additional 334 shares during the last quarter.

CarMax Price Performance

KMX opened at $81.60 on Friday. The stock’s 50-day moving average price is $75.24 and its 200 day moving average price is $75.78. CarMax, Inc. has a 12-month low of $62.90 and a 12-month high of $88.22. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.64 and a beta of 1.68. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. As a group, sell-side analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KMX. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Truist Financial raised their price target on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price objective on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. BNP Paribas upgraded CarMax to a “strong sell” rating in a research report on Friday, September 27th. Finally, Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.73.

About CarMax

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.