Connor Clark & Lunn Investment Management Ltd. Sells 26,755 Shares of CarMax, Inc. (NYSE:KMX)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 501,169 shares of the company's stock after selling 26,755 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.32% of CarMax worth $38,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Baker Tilly Wealth Management LLC raised its stake in CarMax by 4.6% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company's stock valued at $217,000 after purchasing an additional 130 shares during the period. Peoples Bank KS increased its stake in CarMax by 10.0% in the 2nd quarter. Peoples Bank KS now owns 1,479 shares of the company's stock worth $108,000 after acquiring an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in CarMax by 2.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company's stock worth $456,000 after acquiring an additional 142 shares during the last quarter. Allegheny Financial Group LTD increased its stake in CarMax by 4.1% in the 2nd quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company's stock worth $264,000 after acquiring an additional 143 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of CarMax by 12.5% in the 3rd quarter. Signaturefd LLC now owns 1,545 shares of the company's stock worth $120,000 after purchasing an additional 172 shares during the period.

Analyst Ratings Changes

Several brokerages have weighed in on KMX. Truist Financial upped their target price on CarMax from $70.00 to $75.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Evercore ISI increased their price target on CarMax from $76.00 to $79.00 and gave the company an "in-line" rating in a report on Thursday, October 17th. Wedbush reissued an "outperform" rating and set a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Finally, BNP Paribas upgraded CarMax to a "strong sell" rating in a report on Friday, September 27th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, CarMax has a consensus rating of "Hold" and a consensus price target of $79.73.

CarMax Stock Performance

NYSE KMX traded up $1.36 during trading hours on Wednesday, reaching $76.66. 1,924,520 shares of the company were exchanged, compared to its average volume of 1,893,913. The stock has a market capitalization of $11.88 billion, a P/E ratio of 28.30, a P/E/G ratio of 1.59 and a beta of 1.68. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The business's 50 day simple moving average is $75.07 and its 200-day simple moving average is $75.61. CarMax, Inc. has a 1 year low of $62.90 and a 1 year high of $88.22.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company's revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, equities research analysts expect 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.