Stevens Capital Management LP Makes New Investment in CarMax, Inc. $KMX

Stevens Capital Management LP purchased a new position in shares of CarMax, Inc. (NYSE:KMX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,683 shares of the company’s stock, valued at approximately $449,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Zions Bancorporation National Association UT acquired a new stake in shares of CarMax in the 1st quarter worth approximately $27,000. Accent Capital Management LLC purchased a new stake in CarMax during the first quarter worth $34,000. Strengthening Families & Communities LLC grew its holdings in CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after purchasing an additional 256 shares during the last quarter. Quarry LP increased its position 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 buying an additional 233 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of CarMax by 25.8% during the 2nd quarter. Blue Trust Inc. now owns 1,130 shares of the company’s stock worth $76,000 after buying an additional 232 shares during the last quarter.

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of research reports. Zacks Research cut shares of CarMax from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 2nd. Oppenheimer reiterated a “market perform” rating on shares of CarMax in a research report on Friday, September 26th. Barclays assumed coverage on CarMax in a research report on Tuesday, November 11th. They set an “underweight” rating and a $28.00 price objective for the company. Stephens downgraded CarMax from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $53.00 to $42.00 in a research report on Tuesday, October 7th. Finally, Mizuho decreased their price objective on CarMax from $78.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $41.54.

CarMax Trading Up 5.5%

Shares of KMX opened at $35.38 on Friday. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $91.25. The company has a market capitalization of $5.20 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26. The stock has a fifty day moving average of $43.84 and a two-hundred day moving average of $56.40. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46.

CarMax (NYSE:KMX) last announced its quarterly earnings data 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). CarMax had a return on equity of 8.51% and a net margin of 1.98%.The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. As a group, analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

CarMax 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.