Quadrature Capital Ltd Buys New Stake in CarMax, Inc. (NYSE:KMX)

Quadrature Capital Ltd purchased a new position in shares of CarMax, Inc. (NYSE:KMX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 35,445 shares of the company’s stock, valued at approximately $2,742,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of CarMax by 2,883.1% in the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after purchasing an additional 1,713,379 shares during the last quarter. Vulcan Value Partners LLC increased its position in CarMax by 299.7% during the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after buying an additional 1,369,986 shares during the period. Holocene Advisors LP lifted its stake in CarMax by 740.2% in the third quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after buying an additional 834,232 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of CarMax by 87.6% in the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after acquiring an additional 541,967 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after acquiring an additional 436,342 shares during the last quarter.

Wall Street Analyst Weigh In

KMX has been the subject of a number of recent research reports. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Stephens started coverage on CarMax in a research report on Thursday. They issued an “equal weight” rating and a $86.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their target price on CarMax from $65.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday. Four analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, CarMax presently has an average rating of “Hold” and a consensus target price of $81.00.

CarMax Stock Performance

Shares of KMX opened at $84.58 on Friday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 52-week low of $65.38 and a 52-week high of $88.22. The company has a 50-day simple moving average of $76.40 and a 200-day simple moving average of $76.42. The company has a market capitalization of $13.10 billion, a PE ratio of 31.80, a P/E/G ratio of 1.71 and a beta of 1.71.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. CarMax’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. Equities research analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.