Oppenheimer & Co. Inc. Reduces Stake in CarMax, Inc (KMX)
Oppenheimer & Co. Inc. lowered its position in shares of CarMax, Inc (NYSE:KMX) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 863,281 shares of the company’s stock after selling 20,921 shares during the period. CarMax accounts for approximately 1.4% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 5th largest holding. Oppenheimer & Co. Inc.’s holdings in CarMax were worth $55,361,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of CarMax during the fourth quarter worth $121,000. Tredje AP fonden bought a new stake in shares of CarMax during the third quarter worth $144,000. QS Investors LLC raised its position in shares of CarMax by 1.0% during the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after acquiring an additional 22 shares during the last quarter. Commerce Bank bought a new stake in shares of CarMax during the third quarter worth $203,000. Finally, Dai Ichi Life Insurance Company Ltd bought a new stake in shares of CarMax during the third quarter worth $206,000.
In other CarMax news, SVP Darren C. Newberry sold 6,584 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $72.61, for a total value of $478,064.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $70.64, for a total value of $565,120.00. Following the completion of the transaction, the director now directly owns 415,572 shares of the company’s stock, valued at $29,356,006.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,584 shares of company stock valued at $5,226,064. Insiders own 1.70% of the company’s stock.
CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, December 21st. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $3.97 billion. CarMax had a net margin of 4.07% and a return on equity of 21.77%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. equities analysts expect that CarMax, Inc will post 3.84 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Credit Suisse Group dropped their target price on CarMax from $83.00 to $71.54 and set an “outperform” rating for the company in a research report on Friday, January 26th. Berenberg Bank upgraded CarMax from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Monday, January 8th. ValuEngine downgraded CarMax from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Deutsche Bank downgraded CarMax from a “buy” rating to a “hold” rating and set a $76.00 price objective for the company. in a report on Friday, November 17th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. CarMax presently has an average rating of “Buy” and a consensus price target of $79.68.
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CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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