Patriot Financial Group Insurance Agency LLC Purchases 6,688 Shares of CarMax, Inc. $KMX

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in CarMax, Inc. by 21.3% during the second quarter, acquiring an additional 6,688 shares, bringing its total holdings to 38,113 shares valued at approximately $2.56 million.
• CarMax reported an earnings per share (EPS) of $0.64 for the last quarter, missing estimates significantly, with revenues of $6.59 billion, down 6% year-over-year.
• Wall Street analysts have lowered their price targets for CarMax, with Royal Bank of Canada revising its target from $81.00 to $59.00, reflecting a cautious outlook on the company's performance.

Patriot Financial Group Insurance Agency LLC boosted its position in CarMax, Inc. (NYSE:KMX - Free Report) by 21.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,113 shares of the company's stock after buying an additional 6,688 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in CarMax were worth $2,562,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in CarMax in the 1st quarter valued at about $27,000. Accent Capital Management LLC bought a new stake in CarMax in the 1st quarter valued at about $34,000. Strengthening Families & Communities LLC increased its position in CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock valued at $39,000 after buying an additional 256 shares in the last quarter. Quarry LP increased its position in CarMax by 50.5% in the 1st quarter. Quarry LP now owns 694 shares of the company's stock valued at $54,000 after buying an additional 233 shares in the last quarter. Finally, Blue Trust Inc. increased its position in CarMax by 49.2% in the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock valued at $70,000 after buying an additional 296 shares in the last quarter.

Wall Street Analysts Forecast Growth

KMX has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their target price on CarMax from $81.00 to $59.00 and set an "outperform" rating for the company in a research report on Friday, September 26th. Truist Financial decreased their price objective on CarMax from $74.00 to $47.00 and set a "hold" rating for the company in a report on Friday, September 26th. BNP Paribas Exane decreased their price objective on CarMax from $52.00 to $35.00 and set an "underperform" rating for the company in a report on Friday, September 26th. Benchmark initiated coverage on CarMax in a report on Thursday, July 17th. They set a "buy" rating and a $75.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on CarMax from $80.00 to $56.00 and set an "overweight" rating for the company in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.31.

CarMax Stock Performance

KMX stock opened at $46.06 on Friday. The firm has a market cap of $6.76 billion, a PE ratio of 13.51, a P/E/G ratio of 0.85 and a beta of 1.27. 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 business has a 50 day moving average of $57.27 and a 200-day moving average of $64.11. CarMax, Inc. has a 12-month low of $42.75 and a 12-month high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). The business 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%. The business's revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. As a group, sell-side analysts expect that CarMax, Inc. will post 3.23 earnings per share 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.

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