Primecap Management Co. CA Lowers Stake in CarMax, Inc. (NYSE:KMX)

Primecap Management Co. CA lowered its stake in shares of CarMax, Inc. (NYSE:KMX) by 2.4% in the third quarter, HoldingsChannel.com reports. The firm owned 5,283,834 shares of the company’s stock after selling 127,950 shares during the period. Primecap Management Co. CA’s holdings in CarMax were worth $408,863,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KMX. O Shaughnessy Asset Management LLC purchased a new position in shares of CarMax during the 1st quarter worth approximately $333,000. UniSuper Management Pty Ltd boosted its position in CarMax by 526.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,084 shares of the company’s stock valued at $1,140,000 after buying an additional 10,996 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in CarMax by 29.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after buying an additional 37,660 shares during the period. Pitcairn Co. purchased a new position in CarMax in the 1st quarter valued at approximately $208,000. Finally, Epoch Investment Partners Inc. boosted its position in CarMax by 3,094.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after buying an additional 577,685 shares during the period.

CarMax Price Performance

Shares of NYSE:KMX opened at $76.66 on Thursday. The company’s fifty day moving average price is $75.10 and its 200 day moving average price is $75.62. CarMax, Inc. has a 12 month low of $62.90 and a 12 month high of $88.22. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The firm has a market capitalization of $11.88 billion, a P/E ratio of 28.82, a P/E/G ratio of 1.53 and a beta of 1.68.

CarMax (NYSE:KMX) last announced 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 for the quarter, compared to analyst estimates of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. CarMax’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. As a group, sell-side analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI raised their price target on shares of CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, October 17th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of CarMax in a research report on Wednesday, October 16th. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a report on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.