Schechter Investment Advisors LLC Acquires New Stake in CarMax, Inc. (NYSE:KMX)

Posted by on Jun 11th, 2023

Schechter Investment Advisors LLC acquired a new stake in CarMax, Inc. (NYSE:KMX – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,291 shares of the company’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of 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 last quarter. Akre Capital Management LLC increased its stake in shares of CarMax by 0.7% in the 1st quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock worth $708,159,000 after acquiring an additional 49,780 shares during the last quarter. State Street Corp increased its stake in shares of CarMax by 0.7% in the 3rd quarter. State Street Corp now owns 6,137,852 shares of the company’s stock worth $405,221,000 after acquiring an additional 40,047 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of CarMax in the 4th quarter worth $327,964,000. Finally, Invesco Ltd. increased its stake in shares of 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 acquiring an additional 291,804 shares during the last quarter.

CarMax Stock Performance

Shares of CarMax stock opened at $78.81 on Friday. The business has a 50-day moving average of $70.77 and a 200 day moving average of $67.68. CarMax, Inc. has a 12 month low of $52.10 and a 12 month high of $106.24. The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. 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 (NYSE:KMX – Get Rating) last announced its quarterly earnings data on Tuesday, April 11th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $5.72 billion during the quarter, compared to analysts’ expectations of $6.10 billion. CarMax had a return on equity of 8.85% and a net margin of 1.63%. The business’s quarterly revenue was down 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that CarMax, Inc. will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Oppenheimer raised their target price on CarMax from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, April 14th. Wedbush raised their price objective on CarMax from $55.00 to $70.00 in a research report on Monday, April 24th. Robert W. Baird raised their price objective on CarMax from $65.00 to $80.00 in a research report on Wednesday, April 12th. JPMorgan Chase & Co. cut their price objective on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, March 10th. Finally, Stephens cut their price objective on CarMax from $53.00 to $51.00 and set an “equal weight” rating for the company in a research report on Friday, March 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CarMax has a consensus rating of “Hold” and a consensus price target of $65.40.

CarMax Company Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

Receive News & Ratings for CarMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax and related companies with MarketBeat.com's FREE daily email newsletter.