Rakuten Investment Management Inc. Takes $1.26 Million Position in CarMax, Inc. $KMX

Rakuten Investment Management Inc. acquired a new position in shares of CarMax, Inc. (NYSE:KMX) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 28,181 shares of the company’s stock, valued at approximately $1,264,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in CarMax during the 2nd quarter valued at $208,144,000. AQR Capital Management LLC increased its holdings in shares of CarMax by 195.3% during the second quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock valued at $298,107,000 after purchasing an additional 2,947,996 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of CarMax by 1,410.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,028,718 shares of the company’s stock valued at $136,350,000 after purchasing an additional 1,894,408 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in CarMax by 795.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,846,406 shares of the company’s stock worth $124,097,000 after purchasing an additional 1,640,219 shares during the period. Finally, Azora Capital LP acquired a new stake in CarMax in the second quarter worth about $45,793,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley set a $35.00 target price on shares of CarMax in a research note on Monday, December 8th. Needham & Company LLC reiterated a “hold” rating on shares of CarMax in a research note on Friday, November 7th. JPMorgan Chase & Co. cut their target price on CarMax from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. Wedbush decreased their price target on CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $39.64.

CarMax Stock Performance

Shares of NYSE KMX opened at $46.24 on Friday. The stock’s fifty day simple moving average is $40.61 and its 200 day simple moving average is $48.50. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.11 and a beta of 1.29. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $89.47.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.CarMax’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. As a group, sell-side analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

CarMax 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.