Howland Capital Management LLC Trims Stock Position in CarMax, Inc. (NYSE:KMX)

Howland Capital Management LLC cut its stake in CarMax, Inc. (NYSE:KMX) by 91.2% in the first quarter, Holdings Channel.com reports. The fund owned 6,005 shares of the company’s stock after selling 61,887 shares during the quarter. Howland Capital Management LLC’s holdings in CarMax were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in CarMax by 16.4% in the fourth quarter. BNP Paribas Financial Markets now owns 127,402 shares of the company’s stock valued at $9,777,000 after acquiring an additional 17,973 shares during the last quarter. Fairview Capital Investment Management LLC raised its holdings in shares of CarMax by 7.0% in the fourth quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock valued at $19,302,000 after buying an additional 16,438 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CarMax in the fourth quarter valued at about $5,637,000. Charles Schwab Investment Management Inc. raised its holdings in shares of CarMax by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company’s stock valued at $76,058,000 after buying an additional 30,107 shares during the last quarter. Finally, First Pacific Advisors LP raised its holdings in shares of CarMax by 1.2% in the fourth quarter. First Pacific Advisors LP now owns 2,331,545 shares of the company’s stock valued at $178,923,000 after buying an additional 28,095 shares during the last quarter.

CarMax Stock Up 3.6 %

Shares of NYSE KMX opened at $79.71 on Friday. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a market capitalization of $12.44 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The firm’s 50-day moving average is $71.54 and its two-hundred day moving average is $73.95.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities analysts anticipate that CarMax, Inc. will post 3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KMX shares. Evercore ISI reduced their target price on shares of CarMax from $73.00 to $68.00 and set an “in-line” rating for the company in a report on Thursday, June 20th. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of CarMax in a research note on Tuesday, June 18th. Robert W. Baird dropped their price target on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a research note on Friday, April 12th. Royal Bank of Canada boosted their price target on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Finally, Argus upgraded shares of CarMax to a “hold” rating in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.50.

Insider Activity at CarMax

In related news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the transaction, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The disclosure for this sale can be found here. Insiders own 1.66% of the company’s stock.

CarMax Company 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.