AQR Capital Management LLC Has $298.11 Million Stock Position in CarMax, Inc. $KMX

AQR Capital Management LLC raised its stake in CarMax, Inc. (NYSE:KMX) by 195.3% in the second quarter, Holdings Channel.com reports. The firm owned 4,457,340 shares of the company’s stock after acquiring an additional 2,947,996 shares during the period. AQR Capital Management LLC’s holdings in CarMax were worth $298,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of KMX. Y Intercept Hong Kong Ltd bought a new stake in CarMax in the second quarter valued at about $5,758,000. Hantz Financial Services Inc. raised its stake in shares of CarMax by 45.3% in the second quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock worth $12,893,000 after acquiring an additional 59,840 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of CarMax by 6,129.3% in the 2nd quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock valued at $628,000 after buying an additional 9,194 shares during the period. Fox Run Management L.L.C. bought a new position in shares of CarMax in the 2nd quarter valued at about $1,887,000. Finally, Gagnon Securities LLC boosted its position in shares of CarMax by 3.9% in the 2nd quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock worth $10,983,000 after purchasing an additional 6,067 shares during the last quarter.

CarMax Stock Down 1.6%

KMX stock opened at $41.00 on Friday. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $91.25. The business’s 50 day simple moving average is $39.71 and its 200 day simple moving average is $53.64. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. The firm has a market capitalization of $6.02 billion, a PE ratio of 12.02, a PEG ratio of 1.02 and a beta of 1.29.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KMX. Morgan Stanley set a $35.00 price target on shares of CarMax in a research report on Monday. Barclays initiated coverage on CarMax in a report on Tuesday, November 11th. They issued an “underweight” rating and a $28.00 price target for the company. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $30.00 price objective (down previously from $50.00) on shares of CarMax in a report on Thursday, November 6th. Wedbush reissued a “neutral” rating and set a $40.00 target price on shares of CarMax in a research note on Tuesday, November 18th. Finally, Wall Street Zen downgraded CarMax from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $41.69.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.