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

Primecap Management Co. CA cut its holdings in shares of CarMax, Inc. (NYSE:KMX) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,560,371 shares of the company’s stock after selling 177,540 shares during the period. Primecap Management Co. CA’s holdings in CarMax were worth $204,624,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of CarMax by 195.3% during the second quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock worth $298,107,000 after purchasing an additional 2,947,996 shares during the period. Baird Financial Group Inc. increased its holdings in CarMax by 6.6% in the second quarter. Baird Financial Group Inc. now owns 3,298,113 shares of the company’s stock valued at $221,666,000 after purchasing an additional 204,481 shares during the period. Norges Bank bought a new position in CarMax during the 2nd quarter worth $208,144,000. Invesco Ltd. lifted its holdings in CarMax by 4.7% during the 2nd quarter. Invesco Ltd. now owns 2,998,928 shares of the company’s stock worth $201,558,000 after buying an additional 135,334 shares during the period. Finally, First Pacific Advisors LP grew its position in shares of CarMax by 0.6% in the 2nd quarter. First Pacific Advisors LP now owns 2,431,244 shares of the company’s stock valued at $163,404,000 after buying an additional 15,270 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research note on Friday, January 9th. Mizuho decreased their target price on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Morgan Stanley set a $35.00 price target on shares of CarMax in a report on Monday, December 8th. Stephens dropped their price target on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, December 19th. Finally, Benchmark reiterated a “hold” rating on shares of CarMax in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $39.21.

CarMax Stock Down 2.4%

CarMax stock opened at $42.10 on Thursday. The company has a market capitalization of $5.97 billion, a PE ratio of 13.89, a PEG ratio of 1.03 and a beta of 1.35. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $84.49. The firm’s fifty day moving average is $43.61 and its 200 day moving average is $45.95. 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 (NYSE:KMX) last released its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue was down 6.9% on a year-over-year basis. As a group, sell-side analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

CarMax Company 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.