Wedge Capital Management L L P NC Has $5.67 Million Position in CarMax, Inc. $KMX

Wedge Capital Management L L P NC raised its position in shares of CarMax, Inc. (NYSE:KMX) by 23.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 126,401 shares of the company’s stock after purchasing an additional 23,769 shares during the quarter. Wedge Capital Management L L P NC’s holdings in CarMax were worth $5,672,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in CarMax during the second quarter worth $28,000. MUFG Securities EMEA plc bought a new stake in CarMax in the second quarter worth approximately $30,000. Quarry LP lifted its stake in CarMax by 50.5% in the first quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after buying an additional 233 shares during the period. Hollencrest Capital Management boosted its holdings in shares of CarMax by 39.9% during the 2nd quarter. Hollencrest Capital Management now owns 1,052 shares of the company’s stock worth $71,000 after buying an additional 300 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in CarMax by 25.8% in the second quarter. Blue Trust Inc. now owns 1,130 shares of the company’s stock valued at $76,000 after purchasing an additional 232 shares in the last quarter.

CarMax Stock Down 2.3%

Shares of NYSE KMX opened at $38.44 on Monday. The business’s fifty day moving average price is $39.25 and its 200-day moving average price is $52.64. CarMax, Inc. has a one year low of $30.26 and a one year high of $89.47. The stock has a market capitalization of $5.65 billion, a PE ratio of 12.69, a P/E/G ratio of 0.95 and a beta of 1.29. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 1.06.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. On average, equities research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

KMX has been the subject of several research reports. William Blair downgraded CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. Truist Financial boosted their price target on shares of CarMax from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday. Zacks Research downgraded shares of CarMax from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. Evercore ISI reaffirmed a “reduce” rating and set a $36.00 target price on shares of CarMax in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have given a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $39.36.

CarMax 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.