Kovitz Investment Group Partners LLC Trims Stock Position in CarMax, Inc. (NYSE:KMX)

Kovitz Investment Group Partners LLC cut its position in CarMax, Inc. (NYSE:KMX - Free Report) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,472,217 shares of the company's stock after selling 128,988 shares during the quarter. Kovitz Investment Group Partners LLC owned 0.95% of CarMax worth $113,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in CarMax during the first quarter worth about $382,000. Cetera Advisors LLC increased its stake in CarMax by 48.7% during the 1st quarter. Cetera Advisors LLC now owns 9,178 shares of the company's stock worth $799,000 after buying an additional 3,004 shares during the period. Park Avenue Securities LLC lifted its holdings in CarMax by 4.4% during the 2nd quarter. Park Avenue Securities LLC now owns 14,775 shares of the company's stock worth $1,084,000 after buying an additional 621 shares in the last quarter. CWM LLC grew its stake in shares of CarMax by 69.6% in the second quarter. CWM LLC now owns 17,776 shares of the company's stock worth $1,304,000 after acquiring an additional 7,294 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of CarMax by 12.2% during the second quarter. SG Americas Securities LLC now owns 25,742 shares of the company's stock worth $1,888,000 after acquiring an additional 2,803 shares during the period.

CarMax Stock Performance

NYSE KMX traded up $1.67 during trading hours on Friday, hitting $86.23. The company had a trading volume of 4,643,498 shares, compared to its average volume of 1,739,917. The business has a 50 day moving average of $76.71 and a 200-day moving average of $76.57. The company has a market cap of $13.36 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.70 and a beta of 1.71. CarMax, Inc. has a 1-year low of $65.38 and a 1-year high of $88.22. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25.

CarMax (NYSE:KMX - Get Free Report) last announced its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the company earned $0.75 earnings per share. The firm's revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities research analysts expect that CarMax, Inc. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KMX. Evercore ISI lifted their target price on CarMax from $81.00 to $83.00 and gave the company an "in-line" rating in a report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price objective on shares of CarMax in a research note on Wednesday, October 16th. Stephens assumed coverage on CarMax in a research report on Thursday. They set an "equal weight" rating and a $86.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and issued a $95.00 target price on shares of CarMax in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $82.00 price target on shares of CarMax in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CarMax presently has a consensus rating of "Hold" and a consensus price target of $81.00.

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.