Cannell Peter B Co Inc Lowers stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Cannell Peter B Co Inc reduced its stake in CarMax Inc by 12.22% during the most recent quarter end. The investment management company now holds a total of 1,285,055 shares of CarMax Inc which is valued at $65.1 Million after selling 178,842 shares in CarMax Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.CarMax Inc makes up approximately 2.35% of Cannell Peter B Co Inc’s portfolio.

Other Hedge Funds, Including , Menta Capital sold out all of its stake in KMX during the most recent quarter. The investment firm sold 15,640 shares of KMX which is valued $792,479.Blackrock Advisors reduced its stake in KMX by selling 5,648 shares or 3.18% in the most recent quarter. The Hedge Fund company now holds 172,053 shares of KMX which is valued at $8.7 Million. CarMax Inc makes up approx 0.01% of Blackrock Advisors’s portfolio.Teachers Advisors Inc boosted its stake in KMX in the latest quarter, The investment management firm added 9,063 additional shares and now holds a total of 399,410 shares of CarMax Inc which is valued at $20.1 Million. CarMax Inc makes up approx 0.04% of Teachers Advisors Inc’s portfolio. Quantitative Investment Management added KMX to its portfolio by purchasing 25,900 company shares during the most recent quarter which is valued at $1.3 Million. CarMax Inc makes up approx 0.06% of Quantitative Investment Management’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in KMX by selling 323 shares or 4.0% in the most recent quarter. The Hedge Fund company now holds 7,749 shares of KMX which is valued at $390,627. CarMax Inc makes up approx 0.04% of Tokio Marine Asset Management Co Ltd’s portfolio.

CarMax Inc closed down -0.03 points or -0.06% at $50.64 with 23,13,435 shares getting traded on Monday. Post opening the session at $50.66, the shares hit an intraday low of $50.3 and an intraday high of $51.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, CarMax Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 7, 2016. Analyst had a consensus of $0.71. The company had revenue of $3705.00 million for the quarter, compared to analysts expectations of $3681.66 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on CarMax Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 8, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 54 from a previous price target of $53 .CarMax Inc was Downgraded by Sterne Agee CRT to ” Neutral” on Mar 28, 2016. CarMax Inc was Downgraded by Northcoast to ” Neutral” on Mar 11, 2016.

CarMax Inc. (CarMax) is a holding company engaged in providing used vehicles and related products and services. The Company operates through two business 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. The CarMax Sales Operations segment sells used vehicles purchases used vehicles from customers and other sources sells related products and services and arranges financing options for customers. The Company’s CAF segment consists of its own finance operation that provides vehicle financing through CarMax stores. The CAF products and services include retail merchandising wholesale auctions extended protection plans (EPPs) reconditioning and service and customer credit.

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