Janney Montgomery Scott LLC Decreases Stake in CarMax, Inc. (NYSE:KMX)

Janney Montgomery Scott LLC reduced its position in CarMax, Inc. (NYSE:KMX) by 18.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,921 shares of the company’s stock after selling 4,535 shares during the period. Janney Montgomery Scott LLC’s holdings in CarMax were worth $1,831,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KMX. Principal Financial Group Inc. boosted its position in CarMax by 18.9% in the 2nd quarter. Principal Financial Group Inc. now owns 10,107,377 shares of the company’s stock valued at $905,115,000 after buying an additional 1,605,516 shares during the last quarter. London Co. of Virginia boosted its position in CarMax by 12.3% in the 2nd quarter. London Co. of Virginia now owns 2,871,016 shares of the company’s stock valued at $257,099,000 after buying an additional 313,956 shares during the last quarter. Dorsal Capital Management LLC purchased a new position in CarMax in the 2nd quarter valued at about $26,865,000. First Trust Advisors LP boosted its position in CarMax by 265.7% in the 3rd quarter. First Trust Advisors LP now owns 274,545 shares of the company’s stock valued at $25,233,000 after buying an additional 199,480 shares during the last quarter. Finally, FMR LLC raised its stake in shares of CarMax by 110.3% in the 2nd quarter. FMR LLC now owns 330,334 shares of the company’s stock valued at $29,581,000 after purchasing an additional 173,224 shares in the last quarter.

Shares of NYSE:KMX opened at $94.55 on Friday. The firm’s 50 day moving average is $92.70 and its two-hundred day moving average is $93.89. CarMax, Inc. has a 52 week low of $37.59 and a 52 week high of $109.31. The firm has a market capitalization of $15.51 billion, a P/E ratio of 22.73, a PEG ratio of 1.89 and a beta of 1.88. The company has a current ratio of 2.71, a quick ratio of 0.94 and a debt-to-equity ratio of 3.72.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 24th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.84. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.08 billion. CarMax had a net margin of 3.76% and a return on equity of 19.23%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.40 earnings per share. Analysts predict that CarMax, Inc. will post 4.13 EPS for the current year.

KMX has been the topic of a number of recent analyst reports. Oppenheimer restated a “buy” rating and issued a $130.00 target price on shares of CarMax in a research note on Thursday, September 24th. Exane BNP Paribas initiated coverage on shares of CarMax in a research note on Monday, October 5th. They issued an “underperform” rating and a $73.00 target price on the stock. Wedbush restated an “outperform” rating on shares of CarMax in a research note on Friday, October 16th. Guggenheim upped their target price on shares of CarMax from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Bank of America cut their target price on shares of CarMax from $130.00 to $121.00 and set a “buy” rating on the stock in a research note on Tuesday, November 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $102.94.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

Further Reading: G-20

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)