Fifth Third Bancorp Sells 10,053 Shares of CarMax, Inc. $KMX

Fifth Third Bancorp decreased its position in CarMax, Inc. (NYSE:KMX) by 24.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,823 shares of the company’s stock after selling 10,053 shares during the period. Fifth Third Bancorp’s holdings in CarMax were worth $1,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KMX. Basecamp Wealth Advisors LLC raised its position in CarMax by 105.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 327 shares in the last quarter. Huntington National Bank grew its position in shares of CarMax by 62.4% during the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after buying an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of CarMax during the 2nd quarter worth $28,000. Wellington Grp LLC grew its position in shares of CarMax by 6,500.0% during the 1st quarter. Wellington Grp LLC now owns 726 shares of the company’s stock worth $30,000 after buying an additional 715 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in shares of CarMax during the second quarter valued at $30,000.

Key Headlines Impacting 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 Down 0.3%

NYSE:KMX opened at $59.85 on Friday. The company’s 50-day simple moving average is $54.63 and its 200-day simple moving average is $46.50. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $62.56. The stock has a market capitalization of $8.49 billion, a P/E ratio of 39.12, a P/E/G ratio of 2.74 and a beta of 1.15.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the business posted $1.38 EPS. CarMax’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In other news, Director Sona Chawla purchased 2,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, with a total value of $106,780.00. Following the completion of the acquisition, the director owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Keith Barr purchased 9,400 shares of CarMax stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the transaction, the chief executive officer owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. This represents a 39.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 13,900 shares of company stock worth $735,574 over the last three months. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group set a $60.00 price objective on CarMax in a report on Wednesday, July 29th. Barclays raised shares of CarMax from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $37.00 to $61.00 in a research report on Tuesday, July 21st. Truist Financial boosted their price target on shares of CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, June 18th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price target for the company in a research report on Thursday, June 18th. Finally, Bank of America increased 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, CarMax has a consensus rating of “Hold” and a consensus target price of $51.00.

About CarMax

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.