Long Road Investment Counsel LLC Sells 51,800 Shares of CarMax, Inc. $KMX

Long Road Investment Counsel LLC cut its position in shares of CarMax, Inc. (NYSE:KMX) by 66.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,280 shares of the company’s stock after selling 51,800 shares during the period. Long Road Investment Counsel LLC’s holdings in CarMax were worth $1,179,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new position in CarMax during the second quarter worth approximately $28,000. MUFG Securities EMEA plc acquired a new stake in shares of CarMax in the second quarter valued at approximately $30,000. Center for Financial Planning Inc. acquired a new stake in shares of CarMax in the third quarter valued at approximately $31,000. Strengthening Families & Communities LLC boosted its stake in shares of CarMax by 220.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock worth $39,000 after acquiring an additional 605 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of CarMax by 121.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 984 shares of the company’s stock worth $45,000 after acquiring an additional 539 shares during the last quarter.

CarMax Stock Performance

NYSE:KMX opened at $41.70 on Tuesday. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.99 and a beta of 1.35. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $82.79. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. The stock has a fifty day moving average price of $44.42 and a 200-day moving average price of $44.32.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The company had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter last year, the business earned $0.81 earnings per share. CarMax’s revenue was down 6.9% on a year-over-year basis. As a group, equities analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KMX shares. Royal Bank Of Canada increased their price target on CarMax from $34.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a report on Friday, January 9th. JPMorgan Chase & Co. dropped their price objective on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Benchmark restated a “hold” rating on shares of CarMax in a research note on Tuesday, December 16th. Finally, Wall Street Zen downgraded shares of CarMax from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, CarMax currently has a consensus rating of “Reduce” and an average target price of $39.21.

About CarMax

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.