Credit Agricole S A Lowers Position in CarMax, Inc. $KMX

Key Points

• Credit Agricole S A reduced its stake in CarMax, Inc. by 16% in the first quarter, now holding 34,811 shares valued at approximately $2.71 million.
• CarMax's stock has shown a modest uptick of 3.7%, with shares recently opening at $60.02 and a market cap of $9.01 billion.
• The company reported an earnings per share of $1.38 for the last quarter, exceeding estimates by $0.20, along with a 6.1% year-over-year increase in revenue.

Credit Agricole S A lessened its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,811 shares of the company's stock after selling 6,649 shares during the quarter. Credit Agricole S A's holdings in CarMax were worth $2,712,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of KMX. First Trust Advisors LP raised its stake in CarMax by 5.9% during the fourth quarter. First Trust Advisors LP now owns 70,652 shares of the company's stock valued at $5,777,000 after purchasing an additional 3,916 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of CarMax by 0.9% in the fourth quarter. MetLife Investment Management LLC now owns 41,475 shares of the company's stock valued at $3,391,000 after acquiring an additional 375 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of CarMax by 85.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,862 shares of the company's stock valued at $970,000 after acquiring an additional 5,480 shares during the period. Dark Forest Capital Management LP raised its stake in shares of CarMax by 117.6% in the fourth quarter. Dark Forest Capital Management LP now owns 7,450 shares of the company's stock valued at $609,000 after acquiring an additional 4,027 shares during the period. Finally, Voya Investment Management LLC raised its stake in shares of CarMax by 10.3% in the fourth quarter. Voya Investment Management LLC now owns 79,806 shares of the company's stock valued at $6,525,000 after acquiring an additional 7,459 shares during the period.

CarMax Stock Up 3.7%

Shares of CarMax stock opened at $60.0160 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. CarMax, Inc. has a 1 year low of $54.53 and a 1 year high of $91.25. The firm's 50-day moving average is $62.43 and its two-hundred day moving average is $68.90. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.98 and a beta of 1.36.

CarMax (NYSE:KMX - Get Free Report) last issued its earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The company had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm's quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the transaction, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. This represents a 35.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

KMX has been the topic of several recent analyst reports. Mizuho reduced their target price on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Wedbush reissued an "outperform" rating and issued a $84.00 target price on shares of CarMax in a research note on Tuesday, August 19th. Evercore ISI cut their price target on shares of CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. JPMorgan Chase & Co. upgraded shares of CarMax from an "underweight" rating to a "neutral" rating and cut their price target for the stock from $65.00 to $58.00 in a report on Wednesday, August 6th. Finally, Stephens restated an "overweight" rating and issued a $81.00 price target on shares of CarMax in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

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.

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