CarMax, Inc. $KMX Shares Bought by Farley Capital L.P.

Farley Capital L.P. grew its position in CarMax, Inc. (NYSE:KMX) by 257.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 72,494 shares of the company’s stock after acquiring an additional 52,237 shares during the period. CarMax accounts for approximately 2.3% of Farley Capital L.P.’s investment portfolio, making the stock its 8th biggest position. Farley Capital L.P.’s holdings in CarMax were worth $3,253,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in CarMax by 195.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock worth $298,107,000 after purchasing an additional 2,947,996 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of CarMax by 6.6% during the second quarter. Baird Financial Group Inc. now owns 3,298,113 shares of the company’s stock valued at $221,666,000 after purchasing an additional 204,481 shares in the last quarter. Norges Bank bought a new stake in shares of CarMax during the second quarter worth about $208,144,000. Invesco Ltd. increased its stake in shares of CarMax by 4.7% in the second quarter. Invesco Ltd. now owns 2,998,928 shares of the company’s stock valued at $201,558,000 after buying an additional 135,334 shares during the period. Finally, Vulcan Value Partners LLC increased its stake in shares of CarMax by 135.2% in the third quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company’s stock valued at $104,569,000 after buying an additional 1,338,134 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. Mizuho cut their price target on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Evercore set a $42.00 price objective on shares of CarMax in a research note on Tuesday, February 10th. Benchmark restated a “hold” rating on shares of CarMax in a report on Tuesday, December 16th. Finally, Robert W. Baird raised their target price on CarMax from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, CarMax currently has an average rating of “Reduce” and an average price target of $39.21.

CarMax Trading Up 2.0%

KMX opened at $42.89 on Friday. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $84.49. The company has a fifty day moving average of $43.68 and a 200-day moving average of $45.93. The stock has a market cap of $6.08 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The firm had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the business posted $0.81 EPS. The business’s revenue was down 6.9% compared to the same quarter last year. On average, sell-side analysts predict that CarMax, Inc. will post 3.23 EPS 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.