Rakuten Investment Management Inc. Purchases New Shares in CarMax, Inc. $KMX

Rakuten Investment Management Inc. acquired a new position in CarMax, Inc. (NYSE:KMX) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 28,181 shares of the company’s stock, valued at approximately $1,264,000.

Several other large investors also recently modified their holdings of KMX. AQR Capital Management LLC increased its position in shares of CarMax by 195.3% during the second quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock worth $298,107,000 after acquiring an additional 2,947,996 shares during the last quarter. Baird Financial Group Inc. grew its stake in CarMax by 6.6% during the 2nd 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 purchased a new stake in CarMax during the 2nd quarter worth approximately $208,144,000. Invesco Ltd. raised its position in shares of CarMax by 4.7% in the 2nd quarter. Invesco Ltd. now owns 2,998,928 shares of the company’s stock valued at $201,558,000 after purchasing an additional 135,334 shares in the last quarter. Finally, First Pacific Advisors LP boosted its stake in shares of CarMax by 0.6% during the 2nd quarter. First Pacific Advisors LP now owns 2,431,244 shares of the company’s stock valued at $163,404,000 after buying an additional 15,270 shares during the last quarter.

CarMax Trading Down 3.3%

Shares of NYSE KMX opened at $46.24 on Friday. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $89.47. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.29. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. The stock’s 50 day simple moving average is $40.61 and its 200 day simple moving average is $48.50.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.11. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The firm had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. Equities research analysts expect that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KMX shares. Needham & Company LLC reissued a “hold” rating on shares of CarMax in a research report on Friday, November 7th. Morgan Stanley set a $35.00 price objective on shares of CarMax in a report on Monday, December 8th. Truist Financial upped their target price on shares of CarMax from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Seaport Research Partners cut shares of CarMax from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 28th. Finally, Bank of America lifted their price target on CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $39.64.

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.