Rings Capital Management LLC lowered its holdings in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 949,000 shares of the company’s stock after selling 125,000 shares during the period. CarMax accounts for 18.2% of Rings Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Rings Capital Management LLC owned 0.67% of CarMax worth $36,669,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of CarMax in the fourth quarter valued at about $159,232,000. Dimensional Fund Advisors LP boosted its stake in shares of CarMax by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,985,895 shares of the company’s stock worth $154,023,000 after buying an additional 300,694 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of CarMax by 73.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after buying an additional 1,494,205 shares during the last quarter. Invesco Ltd. grew its holdings in shares of CarMax by 14.2% during the third quarter. Invesco Ltd. now owns 3,425,737 shares of the company’s stock worth $153,713,000 after buying an additional 426,809 shares during the last quarter. Finally, Vulcan Value Partners LLC increased its position in CarMax by 25.8% in the 4th quarter. Vulcan Value Partners LLC now owns 2,928,832 shares of the company’s stock valued at $113,210,000 after acquiring an additional 600,712 shares during the period.
CarMax Price Performance
Shares of KMX opened at $51.83 on Wednesday. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. The stock’s 50 day moving average is $42.26 and its two-hundred day moving average is $42.39. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $71.99. The firm has a market capitalization of $7.35 billion, a PE ratio of 32.39, a P/E/G ratio of 1.97 and a beta of 1.21.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on KMX. UBS Group started coverage on CarMax in a research report on Wednesday, May 27th. They set a “neutral” rating and a $42.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on CarMax from $35.00 to $37.00 and gave the company an “underweight” rating in a report on Thursday, June 11th. Royal Bank Of Canada restated a “sector perform” rating and set a $41.00 price target on shares of CarMax in a research note on Wednesday, April 15th. Argus raised CarMax to a “hold” rating in a report on Thursday, April 16th. Finally, Truist Financial lifted their price objective on shares of CarMax from $37.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, CarMax presently has an average rating of “Reduce” and a consensus price target of $42.40.
View Our Latest Stock Report on CarMax
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.
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