Atria Wealth Solutions Inc. Sells 6,861 Shares of CarMax, Inc. $KMX

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in CarMax, Inc. by 62.2%, now owning only 4,166 shares after selling 6,861 shares during the second quarter, valued at approximately $280,000.
• Recent analyst actions show price targets for CarMax shares have been significantly lowered, with Royal Bank of Canada reducing its target from $81.00 to $59.00 and several firms downgrading their ratings.
• CarMax reported earnings per share of $0.64, falling short of the estimated $1.03, and its revenue of $6.59 billion also missed expectations, marking a 6% decrease compared to the previous year's quarter.

Atria Wealth Solutions Inc. lessened its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 62.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,166 shares of the company's stock after selling 6,861 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in CarMax were worth $280,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in shares of CarMax in the first quarter worth $27,000. Accent Capital Management LLC bought a new stake in shares of CarMax in the first quarter worth $34,000. Strengthening Families & Communities LLC lifted its position in shares of CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock worth $39,000 after purchasing an additional 256 shares in the last quarter. Quarry LP lifted its position in shares of CarMax by 50.5% in the first quarter. Quarry LP now owns 694 shares of the company's stock worth $54,000 after purchasing an additional 233 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of CarMax by 49.2% in the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after purchasing an additional 296 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on KMX shares. Royal Bank Of Canada cut their price objective on shares of CarMax from $81.00 to $59.00 and set an "outperform" rating on the stock in a research report on Friday, September 26th. Wall Street Zen lowered shares of CarMax from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Wedbush reaffirmed a "neutral" rating and set a $54.00 price target on shares of CarMax in a research report on Thursday, October 16th. Truist Financial dropped their price target on shares of CarMax from $74.00 to $47.00 and set a "hold" rating on the stock in a research report on Friday, September 26th. Finally, Stephens lowered shares of CarMax from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $53.00 to $42.00 in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $51.75.

CarMax Price Performance

Shares of KMX opened at $44.73 on Wednesday. The firm has a market capitalization of $6.57 billion, a PE ratio of 13.12, a PEG ratio of 0.82 and a beta of 1.27. The company's 50-day moving average is $53.97 and its 200-day moving average is $61.25. CarMax, Inc. has a fifty-two week low of $42.34 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.39). The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. CarMax's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. Equities analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

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.

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