Paloma Partners Management Co Invests $394,000 in CarMax, Inc. (NYSE:KMX)

Paloma Partners Management Co acquired a new position in CarMax, Inc. (NYSE:KMX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,091 shares of the company’s stock, valued at approximately $394,000.

A number of other institutional investors have also made changes to their positions in the business. Baker Tilly Wealth Management LLC lifted its position in shares of CarMax by 4.6% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock worth $217,000 after purchasing an additional 130 shares in the last quarter. Peoples Bank KS raised its position in CarMax by 10.0% during the second quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock worth $108,000 after acquiring an additional 135 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in CarMax by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock worth $456,000 after acquiring an additional 142 shares in the last quarter. Allegheny Financial Group LTD raised its position in CarMax by 4.1% during the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after acquiring an additional 143 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its position in CarMax by 1.6% during the third quarter. Sompo Asset Management Co. Ltd. now owns 10,602 shares of the company’s stock worth $820,000 after acquiring an additional 170 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $95.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of CarMax in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price objective on shares of CarMax in a report on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on shares of CarMax from $81.00 to $83.00 and gave the company an “in-line” rating in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CarMax currently has a consensus rating of “Hold” and a consensus price target of $80.09.

CarMax Trading Down 0.7 %

KMX stock opened at $83.62 on Thursday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The company’s 50-day simple moving average is $76.22 and its 200 day simple moving average is $76.36. CarMax, Inc. has a 52 week low of $64.72 and a 52 week high of $88.22. The company has a market capitalization of $12.95 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 1.69 and a beta of 1.71.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $6.83 billion. During the same quarter last year, the company posted $0.75 earnings per share. The company’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current year.

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.