Connor Clark & Lunn Investment Management Ltd. Has $38.78 Million Stake in CarMax, Inc. (NYSE:KMX)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in CarMax, Inc. (NYSE:KMX) by 5.1% in the 3rd quarter, Holdings Channel reports. The fund owned 501,169 shares of the company’s stock after selling 26,755 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CarMax were worth $38,780,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KMX. Baker Tilly Wealth Management LLC increased its stake in CarMax by 4.6% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock worth $217,000 after purchasing an additional 130 shares in the last quarter. Peoples Bank KS increased its position in shares of CarMax by 10.0% during the second quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock worth $108,000 after acquiring an additional 135 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of CarMax by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock worth $456,000 after acquiring an additional 142 shares during the period. Allegheny Financial Group LTD raised its holdings in shares of CarMax by 4.1% during the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after acquiring an additional 143 shares during the period. Finally, Signaturefd LLC lifted its position in CarMax by 12.5% in the 3rd quarter. Signaturefd LLC now owns 1,545 shares of the company’s stock valued at $120,000 after acquiring an additional 172 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on KMX. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of CarMax in a report on Friday, October 4th. JPMorgan Chase & Co. increased their price objective on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Truist Financial upped their price target on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, CarMax has an average rating of “Hold” and a consensus target price of $79.73.

CarMax Stock Performance

NYSE KMX opened at $75.29 on Wednesday. The firm has a market capitalization of $11.66 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 1.59 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 firm’s fifty day moving average price is $75.07 and its two-hundred day moving average price is $75.61. CarMax, Inc. has a 1 year low of $62.90 and a 1 year high of $88.22.

CarMax (NYSE:KMX) last issued its 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). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts anticipate that CarMax, Inc. will post 2.99 EPS for the current year.

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.