Vanguard Group Inc. Has $758.27 Million Stake in CarMax, Inc. $KMX

Vanguard Group Inc. lessened its holdings in shares of CarMax, Inc. (NYSE:KMX) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,899,149 shares of the company’s stock after selling 665,720 shares during the period. Vanguard Group Inc. owned about 11.51% of CarMax worth $758,265,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D boosted its stake in shares of CarMax by 2.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 52,385 shares of the company’s stock valued at $2,351,000 after buying an additional 1,460 shares during the period. Assetmark Inc. increased its stake in CarMax by 26.6% during the 3rd quarter. Assetmark Inc. now owns 421,424 shares of the company’s stock worth $18,909,000 after acquiring an additional 88,625 shares during the period. Public Sector Pension Investment Board increased its stake in CarMax by 5.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 33,135 shares of the company’s stock worth $1,487,000 after acquiring an additional 1,750 shares during the period. Eubel Brady & Suttman Asset Management Inc. raised its holdings in CarMax by 26.1% in the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 406,657 shares of the company’s stock valued at $18,247,000 after acquiring an additional 84,086 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of CarMax by 4.4% during the 3rd quarter. Rhumbline Advisers now owns 321,732 shares of the company’s stock valued at $14,436,000 after acquiring an additional 13,637 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Robert W. Baird raised their target price on shares of CarMax from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Morgan Stanley set a $35.00 price target on shares of CarMax in a report on Monday, December 8th. Wedbush reduced their price target on shares of CarMax from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, December 19th. Finally, Bank of America boosted their price objective on shares of CarMax from $27.00 to $31.00 and gave the company an “underperform” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, CarMax has an average rating of “Reduce” and a consensus target price of $39.21.

CarMax Trading Down 0.2%

KMX opened at $44.49 on Monday. The company has a market cap of $6.31 billion, a P/E ratio of 14.68, a PEG ratio of 1.06 and a beta of 1.35. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. The company’s 50 day moving average is $43.51 and its 200-day moving average is $46.15. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $86.38.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 18th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The business had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The firm’s revenue was down 6.9% compared to the same quarter last year. Equities research analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

About CarMax

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.