Jupiter Asset Management Ltd. Buys Shares of 260,589 CarMax, Inc. $KMX

Jupiter Asset Management Ltd. purchased a new position in shares of CarMax, Inc. (NYSE:KMX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 260,589 shares of the company’s stock, valued at approximately $17,514,000. Jupiter Asset Management Ltd. owned about 0.17% of CarMax at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of KMX. Zions Bancorporation National Association UT purchased a new position in CarMax in the 1st quarter valued at $27,000. Accent Capital Management LLC acquired a new stake in shares of CarMax in the 1st quarter worth $34,000. Strengthening Families & Communities LLC lifted its stake in shares of CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock worth $39,000 after acquiring an additional 256 shares during the period. Quarry LP boosted its holdings in shares of CarMax by 50.5% in the first quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after acquiring an additional 233 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of CarMax by 25.8% during the second quarter. Blue Trust Inc. now owns 1,130 shares of the company’s stock worth $76,000 after acquiring an additional 232 shares during the period.

CarMax Stock Performance

Shares of KMX stock opened at $34.44 on Thursday. The stock has a fifty day moving average price of $47.58 and a 200 day moving average price of $57.95. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. The stock has a market cap of $5.06 billion, a PE ratio of 10.10, a P/E/G ratio of 0.81 and a beta of 1.26. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $91.25.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.39). The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. Sell-side analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on KMX. Benchmark downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, November 6th. Seaport Res Ptn cut CarMax from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 28th. Oppenheimer reissued a “market perform” rating on shares of CarMax in a report on Friday, September 26th. BNP Paribas Exane decreased their price target on CarMax from $52.00 to $35.00 and set an “underperform” rating on the stock in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $30.00 price objective (down previously from $50.00) on shares of CarMax in a report on Thursday, November 6th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $42.62.

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.