Welch & Forbes LLC Has $17.26 Million Stock Position in CarMax, Inc. $KMX

Welch & Forbes LLC decreased its position in CarMax, Inc. (NYSE:KMX) by 45.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 446,573 shares of the company’s stock after selling 371,647 shares during the period. Welch & Forbes LLC owned approximately 0.31% of CarMax worth $17,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of CarMax by 104.2% in the 4th quarter. BNP Paribas Financial Markets now owns 756,031 shares of the company’s stock valued at $29,213,000 after buying an additional 385,790 shares during the period. AdvisorShares Investments LLC acquired a new position in shares of CarMax in the 4th quarter valued at $479,000. Norges Bank acquired a new position in shares of CarMax in the 4th quarter valued at $159,232,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of CarMax in the 4th quarter valued at $56,000. Finally, Huntington National Bank grew its holdings in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the period.

CarMax Price Performance

Shares of NYSE KMX opened at $44.51 on Friday. The firm has a market cap of $6.31 billion, a PE ratio of 27.82, a PEG ratio of 1.69 and a beta of 1.19. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $71.99. The company has a fifty day moving average price of $40.64 and a 200 day moving average price of $41.19.

CarMax (NYSE:KMX) last announced its earnings results on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. The firm had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.65 billion. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. Research analysts predict that CarMax, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

KMX has been the subject of several research analyst reports. UBS Group initiated coverage on shares of CarMax in a report on Wednesday. They issued a “neutral” rating and a $42.00 price target for the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $41.00 price target on shares of CarMax in a report on Wednesday, April 15th. Barclays decreased their price target on shares of CarMax from $28.00 to $26.00 and set an “underweight” rating for the company in a report on Thursday, April 16th. Robert W. Baird upped their target price on shares of CarMax from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, CarMax currently has an average rating of “Reduce” and a consensus price target of $41.27.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.