Rings Capital Management LLC Purchases 448,000 Shares of CarMax, Inc. $KMX

Rings Capital Management LLC raised its position in shares of CarMax, Inc. (NYSE:KMX) by 71.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,074,000 shares of the company’s stock after acquiring an additional 448,000 shares during the period. CarMax makes up 22.6% of Rings Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Rings Capital Management LLC owned about 0.73% of CarMax worth $48,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KMX. Jones Financial Companies Lllp lifted its stake in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after purchasing an additional 173 shares during the period. Resonant Capital Advisors LLC increased its position in CarMax by 4.2% during the 3rd quarter. Resonant Capital Advisors LLC now owns 6,388 shares of the company’s stock worth $287,000 after purchasing an additional 256 shares in the last quarter. Ossiam increased its position in CarMax by 19.5% during the 2nd quarter. Ossiam now owns 1,713 shares of the company’s stock worth $115,000 after purchasing an additional 280 shares in the last quarter. Finally, Hollencrest Capital Management raised its holdings in CarMax by 39.9% in the second quarter. Hollencrest Capital Management now owns 1,052 shares of the company’s stock valued at $71,000 after buying an additional 300 shares during the period.

CarMax Stock Up 2.1%

NYSE KMX opened at $41.86 on Friday. 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, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $82.79. The business has a 50 day moving average price of $44.39 and a two-hundred day moving average price of $44.70. The stock has a market cap of $5.94 billion, a PE ratio of 13.82, a P/E/G ratio of 0.98 and a beta of 1.35.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore set a $42.00 price target on shares of CarMax in a research report on Tuesday, February 10th. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research report on Friday, January 9th. Robert W. Baird raised their target price on shares of CarMax from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Zacks Research upgraded shares of CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen cut shares of CarMax from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $39.21.

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.