CarMax, Inc. (NYSE:KMX) Shares Bought by Rings Capital Management LLC

Rings Capital Management LLC increased its stake in CarMax, Inc. (NYSE:KMX) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 478,000 shares of the company’s stock after acquiring an additional 8,000 shares during the quarter. CarMax accounts for approximately 19.3% of Rings Capital Management LLC’s portfolio, making the stock its 2nd largest position. Rings Capital Management LLC’s holdings in CarMax were worth $36,988,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Advisors LP increased its stake in CarMax by 2.0% in the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock valued at $175,005,000 after purchasing an additional 47,184 shares in the last quarter. Dimensional Fund Advisors LP increased its position in CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after buying an additional 51,397 shares in the last quarter. Vulcan Value Partners LLC raised its stake in CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after buying an additional 1,369,986 shares during the period. FMR LLC raised its stake in CarMax by 2,883.1% during the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after buying an additional 1,713,379 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in CarMax by 21.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock worth $121,479,000 after acquiring an additional 288,165 shares in the last quarter.

CarMax Stock Performance

KMX stock opened at $84.56 on Thursday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The firm has a market cap of $13.10 billion, a PE ratio of 31.79, a P/E/G ratio of 1.73 and a beta of 1.68. The business has a 50 day moving average of $75.48 and a 200-day moving average of $76.01. CarMax, Inc. has a 12-month low of $62.90 and a 12-month high of $88.22.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. As a group, sell-side analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KMX shares. BNP Paribas raised CarMax to a “strong sell” rating in a research report on Friday, September 27th. Wedbush restated an “outperform” rating and set a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 price objective on shares of CarMax in a report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.73.

CarMax Company 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.