Mitsubishi UFJ Trust & Banking Corp Grows Stock Position in CarMax, Inc. $KMX

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in CarMax, Inc. (NYSE:KMX) by 230.5% during the second quarter, Holdings Channel reports. The institutional investor owned 13,030 shares of the company’s stock after buying an additional 9,087 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in CarMax were worth $689,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after acquiring an additional 173 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after acquiring an additional 161 shares during the last quarter. Empowered Funds LLC boosted its position in shares of CarMax by 12.5% in the first quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after acquiring an additional 585 shares during the last quarter. Intech Investment Management LLC grew its holdings in CarMax by 61.7% in the first quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after purchasing an additional 7,307 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in CarMax during the first quarter worth approximately $727,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KMX. Royal Bank Of Canada increased their price target on shares of CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Bank of America boosted their price objective on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Wednesday, June 17th. Truist Financial upped their price objective on CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. Robert W. Baird increased their target price on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Finally, UBS Group set a $60.00 target price on CarMax in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, CarMax presently has an average rating of “Hold” and an average price target of $51.00.

Insider Transactions at CarMax

In related news, Director Peter J. Bensen acquired 2,500 shares of CarMax stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the purchase, the director directly owned 24,796 shares in the company, valued at $1,294,351.20. This trade represents a 11.21% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sona Chawla bought 2,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director directly owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 13,900 shares of company stock valued at $735,574 over the last 90 days. Corporate insiders own 1.01% of the company’s stock.

Key Headlines Impacting CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: Zacks upgraded CarMax from “Hold” to “Strong Buy.” The firm raised multiple EPS forecasts, including estimates for FY2028 to $3.11 from $2.96 and FY2029 to $3.90 from $3.21. It also increased quarterly projections for Q1 2028, Q2 2028, Q3 2028, Q4 2028 and Q1 2029, signaling improving expectations for the used-car retailer’s longer-term earnings power. Zacks upgrade and earnings estimates
• Neutral Sentiment: CarMax’s latest reported quarter provides fundamental support: revenue increased 6.2% year over year to $8.01 billion and earnings of $1.31 per share exceeded the $0.96 analyst consensus. However, earnings were below the $1.38 per share reported in the prior-year period, and the company’s current-year consensus EPS estimate remains $2.73.
• Negative Sentiment: One valuation analysis says CarMax stock looks stretched following a 53% five-year slump and subsequent recovery. With shares near their 52-week high and trading at roughly 39 times earnings, investors may be concerned that the current valuation already discounts much of the expected improvement. CarMax stock looks stretched after a 53% five-year slump
• Negative Sentiment: A separate analysis concludes that CarMax could be approximately 7% above fair value, citing the impact of a leadership change. This raises the risk that the stock’s recent gains have outpaced its underlying fundamentals and could limit further upside. CarMax could be 7% above fair value on leadership change

CarMax Stock Down 0.3%

KMX opened at $59.85 on Friday. The firm has a 50 day moving average price of $54.63 and a 200 day moving average price of $46.50. The company has a market cap of $8.49 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $62.56. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. CarMax’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. Sell-side analysts expect that CarMax, Inc. will post 2.73 earnings per share for the current 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.