Geode Capital Management LLC Cuts Holdings in CarMax, Inc. $KMX

Posted by on Jun 7th, 2026

Geode Capital Management LLC decreased its position in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,557,859 shares of the company’s stock after selling 859,157 shares during the period. Geode Capital Management LLC’s holdings in CarMax were worth $98,857,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KMX. Arrowstreet Capital Limited Partnership grew its position 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 valued at $158,074,000 after purchasing an additional 1,494,205 shares in the last quarter. Vulcan Value Partners LLC grew its position in shares of CarMax by 135.2% during the third quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company’s stock valued at $104,569,000 after purchasing an additional 1,338,134 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new position in shares of CarMax during the third quarter valued at about $43,702,000. Dimensional Fund Advisors LP grew its position in shares of CarMax by 33.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company’s stock valued at $165,358,000 after purchasing an additional 918,553 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in shares of CarMax by 222.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 853,964 shares of the company’s stock valued at $57,395,000 after purchasing an additional 588,901 shares in the last quarter.

CarMax Trading Up 0.6%

KMX opened at $47.19 on Friday. The firm has a market cap of $6.69 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.79 and a beta of 1.21. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $71.99. 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 has a 50-day moving average of $41.00 and a 200 day moving average of $41.60.

CarMax (NYSE:KMX – Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.22 by $0.12. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The company had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the business posted $0.58 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. As a group, research analysts forecast that CarMax, Inc. will post 2.3 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on KMX shares. JPMorgan Chase & Co. lifted their price target on CarMax from $28.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. Bank of America started coverage on CarMax in a research report on Wednesday, April 15th. They issued an “underperform” rating and a $40.00 price target for the company. Barclays dropped their price target on CarMax from $28.00 to $26.00 and set an “underweight” rating for the company in a research report on Thursday, April 16th. Finally, Argus upgraded CarMax to a “hold” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $41.27.

Get Our Latest Report on CarMax

CarMax Profile

(Free Report)

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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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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