Qsemble Capital Management LP Lowers Stock Position in CarMax, Inc. $KMX

Posted by Francis Steltz on Aug 15th, 2026

Qsemble Capital Management LP trimmed its holdings in CarMax, Inc. (NYSE:KMX – Free Report) by 81.0% during the second quarter, HoldingsChannel.com reports. The fund owned 30,650 shares of the company’s stock after selling 130,746 shares during the period. Qsemble Capital Management LP’s holdings in CarMax were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. increased its position in CarMax by 28.1% in the 1st quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock valued at $6,491,000 after acquiring an additional 34,211 shares during the period. Bank of America Corp DE lifted its position in CarMax by 61.7% during the 1st quarter. Bank of America Corp DE now owns 1,687,359 shares of the company’s stock worth $70,160,000 after acquiring an additional 643,834 shares during the period. Convergence Investment Partners LLC acquired a new stake in CarMax during the 1st quarter worth approximately $1,688,000. BML Capital Management LLC purchased a new position in shares of CarMax in the 4th quarter valued at approximately $5,989,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of CarMax in the 1st quarter valued at approximately $2,615,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on KMX shares. Morgan Stanley upped their price target on CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. Robert W. Baird boosted their price objective on shares of CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Bank of America boosted their price objective on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Wednesday, June 17th. Truist Financial upped their price objective on shares of CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, June 18th. Finally, Wall Street Zen upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, CarMax presently has an average rating of “Hold” and an average price target of $51.00.

Check Out Our Latest Analysis on KMX

Insiders Place Their Bets

In related news, Director Peter J. Bensen bought 2,500 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the transaction, the director owned 24,796 shares of the company’s stock, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sona Chawla purchased 2,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were bought at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the purchase, the director owned 21,702 shares in the company, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 13,900 shares of company stock worth $735,574. 1.01% of the stock is owned by corporate insiders.

Trending Headlines about CarMax

Here are the key news stories impacting CarMax this week:

Positive Sentiment: Zacks upgraded CarMax from “Hold” to “Strong Buy.” The firm raised multiple EPS forecasts, including estimates for FY2028 to $3.11 from $2.96 and FY2029 to $3.90 from $3.21. It also increased quarterly projections for Q1 2028, Q2 2028, Q3 2028, Q4 2028 and Q1 2029, signaling improving expectations for the used-car retailer’s longer-term earnings power. Zacks upgrade and earnings estimates
Neutral Sentiment: CarMax’s latest reported quarter provides fundamental support: revenue increased 6.2% year over year to $8.01 billion and earnings of $1.31 per share exceeded the $0.96 analyst consensus. However, earnings were below the $1.38 per share reported in the prior-year period, and the company’s current-year consensus EPS estimate remains $2.73.
Negative Sentiment: One valuation analysis says CarMax stock looks stretched following a 53% five-year slump and subsequent recovery. With shares near their 52-week high and trading at roughly 39 times earnings, investors may be concerned that the current valuation already discounts much of the expected improvement. CarMax stock looks stretched after a 53% five-year slump
Negative Sentiment: A separate analysis concludes that CarMax could be approximately 7% above fair value, citing the impact of a leadership change. This raises the risk that the stock’s recent gains have outpaced its underlying fundamentals and could limit further upside. CarMax could be 7% above fair value on leadership change

CarMax Stock Performance

Shares of KMX stock opened at $59.85 on Friday. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 2.75 and a beta of 1.15. The stock has a 50 day simple moving average of $54.63 and a 200-day simple moving average of $46.50. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $62.56. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX – Get Free Report) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period last year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that CarMax, Inc. will post 2.73 EPS for the current year.

About CarMax

(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.