QVT Financial LP raised its stake in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 557.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 230,000 shares of the company’s stock after purchasing an additional 195,000 shares during the period. CarMax accounts for 0.8% of QVT Financial LP’s portfolio, making the stock its 17th largest position. QVT Financial LP’s holdings in CarMax were worth $8,887,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of KMX. Intech Investment Management LLC increased its position in shares of CarMax by 129.4% in the third quarter. Intech Investment Management LLC now owns 86,444 shares of the company’s stock worth $3,879,000 after acquiring an additional 48,757 shares in the last quarter. Silver Heights Capital Management Inc increased its position in shares of CarMax by 39.5% in the third quarter. Silver Heights Capital Management Inc now owns 926,167 shares of the company’s stock worth $41,557,000 after acquiring an additional 262,478 shares in the last quarter. Freestone Capital Holdings LLC acquired a new stake in shares of CarMax in the fourth quarter worth $968,000. Dimensional Fund Advisors LP increased its position in shares of CarMax by 33.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company’s stock worth $165,358,000 after acquiring an additional 918,553 shares in the last quarter. Finally, Rings Capital Management LLC increased its position in shares of CarMax by 71.6% in the third quarter. Rings Capital Management LLC now owns 1,074,000 shares of the company’s stock worth $48,190,000 after acquiring an additional 448,000 shares in the last quarter.
Wall Street Analyst Weigh In
KMX has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. Robert W. Baird increased their price objective on shares of CarMax from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Barclays upped their target price on shares of CarMax from $26.00 to $31.00 and gave the company an “underweight” rating in a research note on Friday. Argus upgraded shares of CarMax to a “hold” rating in a research note on Thursday, April 16th. Finally, Bank of America initiated coverage on shares of CarMax in a research note on Wednesday, April 15th. They issued an “underperform” rating and a $40.00 target price for the company. One 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $41.73.
CarMax Price Performance
Shares of KMX stock opened at $51.27 on Monday. The company has a market capitalization of $7.27 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21. The firm has a fifty day simple moving average of $41.83 and a 200-day simple moving average of $42.19. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $71.99.
CarMax (NYSE:KMX – Get Free Report) last announced its earnings results on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.12. The business had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.65 billion. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. Equities research analysts anticipate that CarMax, Inc. will post 2.28 earnings per share for the current fiscal year.
Key Headlines Impacting CarMax
Here are the key news stories impacting CarMax this week:
- Positive Sentiment: CarMax posted better-than-expected quarterly results last month, reporting EPS of $0.34 versus the $0.22 consensus and revenue of $5.95 billion versus $5.65 billion expected, which supports the stock’s longer-term rebound.
- Positive Sentiment: Wall Street Zen upgraded CarMax to a “Hold” rating, which may help stabilize investor sentiment. Article Title
- Neutral Sentiment: A report questioned whether CarMax’s finance-accounting leadership shift reflects confidence in the company’s strategy, but the item does not indicate a major change in fundamentals. Article Title
- Negative Sentiment: Zacks Research lowered its EPS estimates for multiple upcoming periods, including FY2027, FY2028, FY2029, and several quarterly forecasts, signaling slower expected earnings momentum for CarMax.
- Negative Sentiment: The repeated downward revisions to future earnings expectations could weigh on valuation if investors become more cautious about CarMax’s growth trajectory.
CarMax 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.
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