Deane Retirement Strategies Lowers stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Deane Retirement Strategies reduced its stake in CarMax Inc by 3.17% during the most recent quarter end. The investment management company now holds a total of 25,597 shares of CarMax Inc which is valued at $1,222,513 after selling 839 shares in CarMax Inc , the firm said in a disclosure report filed with the SEC on Jul 5, 2016.CarMax Inc makes up approximately 1.10% of Deane Retirement Strategies’s portfolio.

CarMax Inc opened for trading at $52.74 and hit $53.67 on the upside on Monday, eventually ending the session at $53.32, with a gain of 1.23% or 0.65 points. The heightened volatility saw the trading volume jump to 26,40,758 shares. Company has a market cap of $10,209 M.

On the company’s financial health, CarMax Inc reported $0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 21, 2016. Analyst had a consensus of $0.92. The company had revenue of $4126.40 million for the quarter, compared to analysts expectations of $4203.38 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 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. (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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