Burgundy Asset Management Ltd. Raises Position in CarMax, Inc. $KMX

Burgundy Asset Management Ltd. lifted its holdings in CarMax, Inc. (NYSE:KMX) by 62.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,459 shares of the company’s stock after purchasing an additional 15,999 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in CarMax were worth $1,860,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KMX. CYBER HORNET ETFs LLC acquired a new stake in CarMax in the second quarter worth about $28,000. MUFG Securities EMEA plc purchased a new position in shares of CarMax in the 2nd quarter valued at approximately $30,000. Center for Financial Planning Inc. acquired a new stake in CarMax in the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC grew its position in CarMax by 220.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock worth $39,000 after purchasing an additional 605 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in CarMax by 121.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 984 shares of the company’s stock valued at $45,000 after purchasing an additional 539 shares in the last quarter.

CarMax Trading Up 0.7%

Shares of NYSE:KMX opened at $42.12 on Thursday. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $82.79. The business has a 50 day moving average of $43.98 and a two-hundred day moving average of $45.42. The company has a market capitalization of $5.97 billion, a PE ratio of 13.90, a PEG ratio of 0.98 and a beta of 1.35.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.12. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis. As a group, analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

Analysts Set New Price Targets

KMX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Bank of America lifted their price target on CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research report on Friday, December 19th. Barclays increased their price objective on CarMax from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a report on Friday, January 9th. Finally, William Blair lowered CarMax from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $39.21.

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.