abrdn plc Boosts Position in CarMax, Inc. (NYSE:KMX)

Posted by on May 24th, 2023

abrdn plc raised its position in CarMax, Inc. (NYSE:KMX – Get Rating) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,195 shares of the company’s stock after purchasing an additional 2,812 shares during the period. abrdn plc’s holdings in CarMax were worth $2,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in CarMax by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,690,606 shares of the company’s stock worth $1,706,790,000 after acquiring an additional 303,973 shares during the period. Akre Capital Management LLC grew its position in shares of CarMax by 0.7% in the first quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock valued at $708,159,000 after purchasing an additional 49,780 shares during the period. State Street Corp increased its stake in CarMax by 0.7% in the third quarter. State Street Corp now owns 6,137,852 shares of the company’s stock valued at $405,221,000 after purchasing an additional 40,047 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in CarMax during the fourth quarter worth about $327,964,000. Finally, Invesco Ltd. boosted its stake in CarMax by 8.4% in the 1st quarter. Invesco Ltd. now owns 3,757,420 shares of the company’s stock worth $362,515,000 after buying an additional 291,804 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KMX shares. Wedbush raised their target price on shares of CarMax from $55.00 to $70.00 in a research report on Monday, April 24th. Robert W. Baird upped their price objective on CarMax from $65.00 to $80.00 in a report on Wednesday, April 12th. Bank of America lifted their target price on CarMax from $40.00 to $44.00 and gave the company an “underperform” rating in a report on Thursday, April 13th. StockNews.com assumed coverage on CarMax in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, Stephens cut their price target on shares of CarMax from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Friday, March 31st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.40.

CarMax Stock Down 0.3 %

KMX stock opened at $71.98 on Wednesday. The firm has a fifty day moving average price of $66.61 and a two-hundred day moving average price of $67.11. The company has a debt-to-equity ratio of 3.17, a current ratio of 2.60 and a quick ratio of 0.68. CarMax, Inc. has a 1-year low of $52.10 and a 1-year high of $106.24. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.73 and a beta of 1.43.

CarMax (NYSE:KMX – Get Rating) last issued its earnings results on Tuesday, April 11th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $6.10 billion. CarMax had a net margin of 1.63% and a return on equity of 8.85%. CarMax’s revenue was down 25.6% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Research analysts predict that CarMax, Inc. will post 2.28 EPS for the current year.

CarMax Profile

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CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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