Summit Trail Advisors LLC Sells 983 Shares of CarMax, Inc. (NYSE:KMX)

Summit Trail Advisors LLC trimmed its holdings in CarMax, Inc. (NYSE:KMX) by 8.2% in the third quarter, HoldingsChannel reports. The fund owned 10,962 shares of the company’s stock after selling 983 shares during the period. Summit Trail Advisors LLC’s holdings in CarMax were worth $848,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Swedbank AB purchased a new stake in CarMax during the first quarter valued at about $1,406,000. CWM LLC boosted its holdings in CarMax by 69.6% during the 2nd quarter. CWM LLC now owns 17,776 shares of the company’s stock valued at $1,304,000 after acquiring an additional 7,294 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in CarMax by 3.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock worth $27,188,000 after acquiring an additional 10,898 shares during the last quarter. AMF Tjanstepension AB purchased a new position in CarMax in the 2nd quarter worth approximately $7,736,000. Finally, Eagle Rock Investment Company LLC bought a new stake in CarMax in the third quarter valued at approximately $747,000.

CarMax Stock Performance

Shares of CarMax stock opened at $85.15 on Tuesday. CarMax, Inc. has a 12 month low of $62.90 and a 12 month high of $88.22. The firm has a market capitalization of $13.19 billion, a P/E ratio of 32.01, a P/E/G ratio of 1.66 and a beta of 1.68. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The business has a fifty day simple moving average of $75.36 and a two-hundred day simple moving average of $75.92.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on KMX shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research note on Wednesday, October 16th. BNP Paribas raised CarMax to a “strong sell” rating in a research note on Friday, September 27th. Evercore ISI upped their price target on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, October 17th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.73.

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.