NewEdge Advisors LLC Grows Stock Holdings in CarMax, Inc. $KMX

NewEdge Advisors LLC increased its stake in CarMax, Inc. (NYSE:KMX) by 63.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,568 shares of the company’s stock after purchasing an additional 26,888 shares during the quarter. NewEdge Advisors LLC’s holdings in CarMax were worth $2,893,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after purchasing an additional 173 shares during the period. Jones Financial Companies Lllp grew its position in CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after buying an additional 161 shares in the last quarter. Empowered Funds LLC grew its position in CarMax by 12.5% during the first quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after buying an additional 585 shares in the last quarter. Intech Investment Management LLC increased its stake in CarMax by 61.7% in the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after acquiring an additional 7,307 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in CarMax in the 1st quarter worth about $727,000.

CarMax Price Performance

Shares of CarMax stock opened at $59.93 on Friday. The firm has a market cap of $8.50 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 2.69 and a beta of 1.15. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $62.56. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The company’s fifty day simple moving average is $54.37 and its two-hundred day simple moving average is $46.40.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 earnings per share. As a group, equities analysts expect that CarMax, Inc. will post 2.73 EPS for the current year.

Key Headlines Impacting CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: Zacks upgraded CarMax to “Strong Buy.” The firm added KMX to its Rank #1 Strong Buy list, providing a positive near-term sentiment catalyst. New Strong Buy Stocks for August 12th
• Positive Sentiment: Analysts raised several future EPS estimates. Zacks increased its forecast to $0.97 for Q2 fiscal 2028, $0.84 for Q3 fiscal 2028, $3.11 for full-year fiscal 2028, and $1.13 for Q1 fiscal 2029. The full-year fiscal 2028 estimate rose from $2.96, suggesting improving confidence in CarMax’s earnings trajectory. Zacks Research CarMax earnings estimates
• Positive Sentiment: Leadership changes may improve the company’s fair value outlook. A Yahoo Finance analysis suggests CarMax could be approximately 7% above its estimated fair value in connection with its leadership transition, making management execution an important focus for investors. CarMax Could Be 7% Above Fair Value On Leadership Change
• Neutral Sentiment: CarMax was named to PEOPLE’s 2026 Companies That Care list, ranking 70th for the seventh time. The recognition supports the company’s employee and community reputation but is unlikely to materially affect near-term earnings. CarMax Named one of the 2026 PEOPLE Companies That Care
• Negative Sentiment: Valuation remains a concern. KMX’s price is above the reported analyst median target of $45, while several recent analysts maintained cautious or underperform ratings. This creates downside risk if earnings growth does not justify the elevated multiple.
• Negative Sentiment: A shareholder-rights law firm is investigating CarMax directors and officers for potential breaches of fiduciary duty. Although no wrongdoing has been established, the investigation introduces legal, governance, and reputational risks. CarMax Shareholder Investigation Alert

Analyst Ratings Changes

KMX has been the subject of several recent analyst reports. Robert W. Baird boosted their price objective on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Bank of America lifted their target price on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research report on Wednesday, June 17th. UBS Group set a $60.00 price target on shares of CarMax in a research note on Wednesday, July 29th. Barclays raised shares of CarMax from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $37.00 to $61.00 in a research note on Tuesday, July 21st. Finally, Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective on the stock in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.00.

Insider Buying and Selling at CarMax

In other CarMax news, Director Sona Chawla acquired 2,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the acquisition, the director owned 21,702 shares in the company, valued at $1,158,669.78. This represents a 10.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter J. Bensen acquired 2,500 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $52.20 per share, with a total value of $130,500.00. Following the acquisition, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 13,900 shares of company stock valued at $735,574 in the last 90 days. Insiders own 1.01% of the company’s stock.

CarMax Company 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.