Verition Fund Management LLC Decreases Stock Position in CarMax, Inc. (NYSE:KMX)

Verition Fund Management LLC reduced its position in CarMax, Inc. (NYSE:KMX) by 74.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,987 shares of the company’s stock after selling 157,265 shares during the quarter. Verition Fund Management LLC’s holdings in CarMax were worth $4,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. First Pacific Advisors LP increased its position in CarMax by 2.0% in the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after buying an additional 47,184 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of CarMax by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after purchasing an additional 51,397 shares in the last quarter. Vulcan Value Partners LLC grew its position in shares of CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after purchasing an additional 1,369,986 shares in the last quarter. FMR LLC grew its position in shares of CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of CarMax by 21.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock valued at $121,479,000 after purchasing an additional 288,165 shares in the last quarter.

CarMax Stock Up 1.3 %

KMX stock opened at $84.22 on Wednesday. CarMax, Inc. has a fifty-two week low of $64.72 and a fifty-two week high of $88.22. The business’s 50 day moving average price is $76.06 and its two-hundred day moving average price is $76.28. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 1.69 and a beta of 1.71.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the company posted $0.75 EPS. The firm’s revenue was down .9% on a year-over-year basis. As a group, analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KMX shares. BNP Paribas upgraded CarMax to a “strong sell” rating in a research report on Friday, September 27th. Royal Bank of Canada restated an “outperform” rating and set a $82.00 target price on shares of CarMax in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Evercore ISI boosted their target price on CarMax from $81.00 to $83.00 and gave the stock an “in-line” rating in a research report on Tuesday. Finally, Wedbush restated an “outperform” rating and set a $95.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.09.

About CarMax

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.