CarMax, Inc. $KMX Stock Holdings Reduced by Rings Capital Management LLC

Rings Capital Management LLC reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 11.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 949,000 shares of the company’s stock after selling 125,000 shares during the quarter. CarMax comprises 18.2% of Rings Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Rings Capital Management LLC’s holdings in CarMax were worth $36,669,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of CarMax during the 4th quarter valued at approximately $159,232,000. Dimensional Fund Advisors LP boosted its stake in shares of CarMax by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,985,895 shares of the company’s stock worth $154,023,000 after acquiring an additional 300,694 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of CarMax by 73.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after acquiring an additional 1,494,205 shares during the period. Invesco Ltd. grew its holdings in shares of CarMax by 14.2% in the 3rd quarter. Invesco Ltd. now owns 3,425,737 shares of the company’s stock worth $153,713,000 after acquiring an additional 426,809 shares during the period. Finally, Vulcan Value Partners LLC increased its stake in CarMax by 25.8% in the 4th quarter. Vulcan Value Partners LLC now owns 2,928,832 shares of the company’s stock valued at $113,210,000 after purchasing an additional 600,712 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KMX shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a report on Wednesday, April 8th. Stephens raised their price target on CarMax from $39.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, April 2nd. Truist Financial raised their price target on CarMax from $37.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of CarMax from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Thursday, June 11th. Finally, Argus raised shares of CarMax to a “hold” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, CarMax has an average rating of “Reduce” and a consensus price target of $42.40.

CarMax Price Performance

KMX stock opened at $51.83 on Wednesday. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $71.99. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.49 and a current ratio of 2.20. The stock’s 50 day moving average price is $42.26 and its 200 day moving average price is $42.39. The firm has a market cap of $7.35 billion, a P/E ratio of 32.39, a PEG ratio of 1.97 and a beta of 1.21.

CarMax (NYSE:KMX) last released its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.12. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter last year, the business posted $0.58 earnings per share. CarMax’s revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts expect that CarMax, Inc. will post 2.3 earnings per share for the current fiscal year.

About CarMax

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.