The Manufacturers Life Insurance Company Sells 23,794 Shares of CarMax, Inc. (NYSE:KMX)

The Manufacturers Life Insurance Company trimmed its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,770 shares of the company's stock after selling 23,794 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.14% of CarMax worth $16,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. First Pacific Advisors LP increased its stake in CarMax by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company's stock valued at $175,005,000 after buying an additional 47,184 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company's stock worth $147,230,000 after purchasing an additional 51,397 shares in the last quarter. Vulcan Value Partners LLC raised its stake in CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company's stock worth $133,773,000 after purchasing an additional 1,369,986 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of CarMax by 21.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company's stock valued at $121,479,000 after buying an additional 288,165 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CarMax by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company's stock valued at $114,471,000 after buying an additional 436,342 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KMX shares. JPMorgan Chase & Co. boosted their target price on shares of CarMax from $55.00 to $65.00 and gave the stock an "underweight" rating in a report on Thursday, September 19th. Royal Bank of Canada reissued an "outperform" rating and set a $82.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of CarMax in a research note on Wednesday, October 16th. BNP Paribas upgraded shares of CarMax to a "strong sell" rating in a report on Friday, September 27th. Finally, Truist Financial upped their price objective on shares of CarMax from $70.00 to $75.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $79.73.

CarMax Stock Performance

NYSE:KMX traded down $0.56 on Monday, reaching $83.41. 416,379 shares of the company's stock were exchanged, compared to its average volume of 1,894,830. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 1.71 and a beta of 1.68. CarMax, Inc. has a 52 week low of $64.72 and a 52 week high of $88.22. The stock has a fifty day simple moving average of $75.93 and a 200-day simple moving average of $76.21.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.85 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 the consensus estimate of $6.83 billion. During the same quarter last year, the business posted $0.75 earnings per share. CarMax's revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts predict that CarMax, Inc. will post 2.99 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.