Nexus Investment Management ULC Has $20.13 Million Stock Holdings in CarMax, Inc. $KMX

Nexus Investment Management ULC increased its position in shares of CarMax, Inc. (NYSE:KMX) by 18.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 448,710 shares of the company’s stock after acquiring an additional 71,065 shares during the quarter. CarMax comprises approximately 2.9% of Nexus Investment Management ULC’s investment portfolio, making the stock its 18th biggest holding. Nexus Investment Management ULC owned about 0.31% of CarMax worth $20,134,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in CarMax in the second quarter valued at approximately $5,758,000. Hantz Financial Services Inc. raised its stake in shares of CarMax by 45.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock worth $12,893,000 after purchasing an additional 59,840 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of CarMax by 6,129.3% in the 2nd quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock valued at $628,000 after buying an additional 9,194 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of CarMax in the second quarter valued at $1,887,000. Finally, Gagnon Securities LLC grew its stake in shares of CarMax by 3.9% in the second quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock valued at $10,983,000 after buying an additional 6,067 shares in the last quarter.

Key CarMax News

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: Zacks raised FY2027 and FY2028 EPS forecasts (FY2027: $2.98 from $2.92; FY2028: $3.15 from $3.14), signaling slightly improved medium‑term profit expectations. Zacks raises FY estimates
• Positive Sentiment: Zacks also nudged up several quarterly estimates for 2027/2028 (Q1 2027 to $1.34 from $1.32; Q3 2027 to $0.67 from $0.62; Q4 2027 to $0.11 from $0.10; Q2 2028 to $0.92 from $0.91), which helps the narrative of modest earnings recovery. Zacks raises quarterly estimates
• Neutral Sentiment: Zacks kept a “Hold” rating on KMX and the broader consensus full‑year EPS remains near $3.23 — the revisions are incremental rather than a major re‑rating. Zacks hold rating
• Negative Sentiment: Offsetting some upside, Zacks trimmed a couple of near‑term estimates (Q1 2028 lowered to $1.31 from $1.33; Q2 2027 cut to $0.86 from $0.89), highlighting lingering near‑term demand/seasonality uncertainty. Zacks cuts near-term estimates

Analyst Upgrades and Downgrades

KMX has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Stephens decreased their price objective on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, December 19th. Needham & Company LLC reissued a “hold” rating on shares of CarMax in a research report on Friday, November 7th. Truist Financial lifted their target price on shares of CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, JPMorgan Chase & Co. decreased their price target on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, CarMax currently has a consensus rating of “Reduce” and a consensus price target of $39.36.

CarMax Price Performance

NYSE:KMX opened at $45.25 on Monday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.09 and a beta of 1.29. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $89.47. The firm’s 50-day simple moving average is $38.27 and its 200 day simple moving average is $49.87.

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

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.