Rings Capital Management LLC Grows Stock Holdings in CarMax, Inc. (NYSE:KMX)

Rings Capital Management LLC increased its stake in CarMax, Inc. (NYSE:KMX) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 478,000 shares of the company’s stock after purchasing an additional 8,000 shares during the period. CarMax accounts for 19.3% of Rings Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Rings Capital Management LLC owned about 0.31% of CarMax worth $36,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CarMax by 26.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,178 shares of the company’s stock valued at $2,877,000 after purchasing an additional 7,795 shares during the period. Townsquare Capital LLC raised its stake in shares of CarMax by 7.0% during the third quarter. Townsquare Capital LLC now owns 29,439 shares of the company’s stock worth $2,278,000 after buying an additional 1,914 shares during the last quarter. Quantbot Technologies LP lifted its holdings in CarMax by 208.5% in the third quarter. Quantbot Technologies LP now owns 42,455 shares of the company’s stock valued at $3,285,000 after buying an additional 28,694 shares during the period. FMR LLC grew its holdings in CarMax by 2,883.1% during the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after acquiring an additional 1,713,379 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of CarMax by 7.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,036 shares of the company’s stock valued at $2,092,000 after acquiring an additional 1,871 shares during the last quarter.

CarMax Price Performance

CarMax stock opened at $84.56 on Thursday. The stock’s 50 day moving average is $75.48 and its 200 day moving average is $76.01. CarMax, Inc. has a one year low of $62.90 and a one year high of $88.22. The firm has a market cap of $13.10 billion, a P/E ratio of 31.79, a P/E/G ratio of 1.73 and a beta of 1.68. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. As a group, research analysts expect that CarMax, Inc. will post 2.99 EPS for the current year.

Analyst Ratings Changes

KMX has been the topic of several analyst reports. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Truist Financial raised their price objective on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 target price on shares of CarMax in a research note on Friday, October 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, CarMax presently has a consensus rating of “Hold” and an average target price of $79.73.

About CarMax

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.