Steinberg Global Asset Management Lowers stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Steinberg Global Asset Management reduced its stake in CarMax Inc by 0.61% during the most recent quarter end. The investment management company now holds a total of 43,670 shares of CarMax Inc which is valued at $2,600,985 after selling 268 shares in CarMax Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.CarMax Inc makes up approximately 0.36% of Steinberg Global Asset Management’s portfolio.

Other Hedge Funds, Including , Samlyn Capital added KMX to its portfolio by purchasing 181,007 company shares during the most recent quarter which is valued at $10,780,777. CarMax Inc makes up approx 0.26% of Samlyn Capital’s portfolio.Liberty Mutual Group Asset Management boosted its stake in KMX in the latest quarter, The investment management firm added 592 additional shares and now holds a total of 13,887 shares of CarMax Inc which is valued at $827,110. CarMax Inc makes up approx 0.03% of Liberty Mutual Group Asset Management’s portfolio.First Mercantile Trust Co boosted its stake in KMX in the latest quarter, The investment management firm added 26,274 additional shares and now holds a total of 27,474 shares of CarMax Inc which is valued at $1,636,351. CarMax Inc makes up approx 0.19% of First Mercantile Trust Co’s portfolio.Glenmede Trust Co Na reduced its stake in KMX by selling 461 shares or 0.56% in the most recent quarter. The Hedge Fund company now holds 82,151 shares of KMX which is valued at $4,834,586. CarMax Inc makes up approx 0.03% of Glenmede Trust Co Na’s portfolio.Capital One National Association boosted its stake in KMX in the latest quarter, The investment management firm added 1,353 additional shares and now holds a total of 12,510 shares of CarMax Inc which is valued at $701,060. CarMax Inc makes up approx 0.06% of Capital One National Association’s portfolio.

CarMax Inc opened for trading at $59.03 and hit $59.48 on the upside on Thursday, eventually ending the session at $59.01, with a gain of 0.10% or 0.06 points. The heightened volatility saw the trading volume jump to 11,39,066 shares. Company has a market cap of $11,299 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. Susquehanna Initiated CarMax Inc on Aug 26, 2016 to “Positive”, Price Target of the shares are set at $70.Company shares were Reiterated by Wedbush on Aug 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $44 .

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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