Ninety One UK Ltd Sells 25,914 Shares of CarMax, Inc. $KMX

Key Points

• Ninety One UK Ltd has reduced its stake in CarMax, Inc. by 14.4%, selling 25,914 shares, and now owns approximately 0.10% of the company worth $10.37 million.
• CarMax reported a net profit decline of 6.0% year-over-year and earnings of $0.64 per share, missing analysts' estimates of $1.03.
• Several analysts have revised their price targets for CarMax, with average target reduced to $60.31, suggesting a consensus rating of "Hold" among analysts.

Ninety One UK Ltd reduced its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 14.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 154,235 shares of the company's stock after selling 25,914 shares during the period. Ninety One UK Ltd owned about 0.10% of CarMax worth $10,366,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMX. Baird Financial Group Inc. grew its holdings in shares of CarMax by 7.1% in the first quarter. Baird Financial Group Inc. now owns 3,093,632 shares of the company's stock valued at $241,056,000 after acquiring an additional 206,106 shares in the last quarter. Invesco Ltd. grew its holdings in CarMax by 4.9% during the first quarter. Invesco Ltd. now owns 2,863,594 shares of the company's stock valued at $223,131,000 after purchasing an additional 133,629 shares during the period. First Pacific Advisors LP grew its holdings in CarMax by 0.8% during the first quarter. First Pacific Advisors LP now owns 2,415,974 shares of the company's stock valued at $188,253,000 after purchasing an additional 18,912 shares during the period. Envestnet Asset Management Inc. grew its holdings in CarMax by 1.4% during the first quarter. Envestnet Asset Management Inc. now owns 1,521,704 shares of the company's stock valued at $118,571,000 after purchasing an additional 20,800 shares during the period. Finally, AQR Capital Management LLC grew its holdings in CarMax by 7.8% during the first quarter. AQR Capital Management LLC now owns 1,509,344 shares of the company's stock valued at $115,887,000 after purchasing an additional 109,332 shares during the period.

CarMax Trading Up 2.6%

NYSE KMX opened at $46.02 on Thursday. The stock's 50-day simple moving average is $57.56 and its two-hundred day simple moving average is $64.29. CarMax, Inc. has a twelve month low of $42.75 and a twelve month high of $91.25. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.83 and a beta of 1.27.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.39). The company had revenue of $6.59 billion for 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%. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. Research analysts forecast that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KMX has been the subject of several research reports. Oppenheimer reissued a "market perform" rating on shares of CarMax in a report on Friday, September 26th. Royal Bank Of Canada dropped their target price on CarMax from $81.00 to $59.00 and set an "outperform" rating on the stock in a research report on Friday, September 26th. Robert W. Baird decreased their price objective on CarMax from $90.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, September 26th. Truist Financial decreased their price objective on CarMax from $74.00 to $47.00 and set a "hold" rating on the stock in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. decreased their price objective on CarMax from $65.00 to $50.00 and set a "neutral" rating on the stock in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, CarMax has a consensus rating of "Hold" and an average price target of $60.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.