Bamco Inc. NY Sells 2,669 Shares of CarMax, Inc. (NYSE:KMX)

Bamco Inc. NY reduced its holdings in shares of CarMax, Inc. (NYSE:KMX) by 15.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,098 shares of the company’s stock after selling 2,669 shares during the quarter. Bamco Inc. NY’s holdings in CarMax were worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMX. FMR LLC grew its position in CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Vulcan Value Partners LLC grew its holdings in shares of CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after acquiring an additional 1,369,986 shares in the last quarter. Marshall Wace LLP increased its position in shares of CarMax by 87.6% in the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after acquiring an additional 541,967 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after acquiring an additional 436,342 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in CarMax by 212.8% during the second quarter. AQR Capital Management LLC now owns 488,836 shares of the company’s stock valued at $35,851,000 after purchasing an additional 332,574 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on KMX shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 price target on shares of CarMax in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. Evercore ISI boosted their price target on CarMax from $81.00 to $83.00 and gave the stock an “in-line” rating in a research report on Tuesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.09.

CarMax Stock Performance

Shares of NYSE KMX opened at $84.22 on Wednesday. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 1.69 and a beta of 1.71. The stock’s fifty day moving average price is $76.06 and its two-hundred day moving average price is $76.28. CarMax, Inc. has a one year low of $64.72 and a one year high of $88.22.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the firm posted $0.75 EPS. The company’s revenue was down .9% compared to the same quarter last year. On average, equities analysts forecast that CarMax, Inc. will post 2.99 EPS 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.