Oppenheimer & Co. Inc. Sells 83,642 Shares of CarMax, Inc. (NYSE:KMX)

Oppenheimer & Co. Inc. reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 28.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 205,808 shares of the company’s stock after selling 83,642 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.13% of CarMax worth $15,925,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. MQS Management LLC purchased a new position in CarMax in the 3rd quarter worth $204,000. Victory Capital Management Inc. increased its position in shares of CarMax by 1.8% in the third quarter. Victory Capital Management Inc. now owns 52,929 shares of the company’s stock valued at $4,096,000 after acquiring an additional 923 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of CarMax by 3.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock valued at $27,188,000 after acquiring an additional 10,898 shares during the period. Apollon Wealth Management LLC increased its position in shares of CarMax by 77.5% in the third quarter. Apollon Wealth Management LLC now owns 4,915 shares of the company’s stock valued at $380,000 after acquiring an additional 2,146 shares during the period. Finally, Keystone Financial Services increased its position in shares of CarMax by 7.8% in the third quarter. Keystone Financial Services now owns 11,891 shares of the company’s stock valued at $920,000 after acquiring an additional 860 shares during the period.

CarMax Trading Up 1.4 %

Shares of CarMax stock traded up $1.10 during trading on Wednesday, hitting $77.79. The stock had a trading volume of 744,741 shares, compared to its average volume of 1,892,389. The firm’s fifty day simple moving average is $75.35 and its 200-day simple moving average is $75.29. The stock has a market cap of $12.05 billion, a PE ratio of 28.83, a PEG ratio of 1.56 and a beta of 1.68. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. CarMax, Inc. has a 12 month low of $62.76 and a 12 month high of $88.22.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. As a group, sell-side analysts expect that CarMax, Inc. will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KMX. Wedbush restated an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Truist Financial upped their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price objective on shares of CarMax in a report on Wednesday, October 16th. Finally, StockNews.com raised shares of CarMax to a “sell” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, CarMax has an average rating of “Hold” and a consensus price target of $79.73.

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.