World Investment Advisors LLC Invests $6.94 Million in CarMax, Inc. (NYSE:KMX)

World Investment Advisors LLC bought a new stake in shares of CarMax, Inc. (NYSE:KMX) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 89,707 shares of the company’s stock, valued at approximately $6,942,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Quarry LP raised its position in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after buying an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of CarMax in the 3rd quarter worth approximately $32,000. True Wealth Design LLC grew its holdings in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after purchasing an additional 436 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after purchasing an additional 287 shares in the last quarter. Finally, Studio Investment Management LLC increased its position in shares of CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KMX. Stephens assumed coverage on shares of CarMax in a report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research note on Friday, October 4th. Truist Financial lifted their price objective on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. increased their target price on CarMax from $65.00 to $70.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Finally, BNP Paribas raised CarMax to a “strong sell” rating in a research note on Friday, September 27th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $81.00.

CarMax Stock Performance

CarMax stock opened at $86.78 on Friday. The stock has a 50-day simple moving average of $77.54 and a 200 day simple moving average of $77.03. The stock has a market capitalization of $13.44 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 1.76 and a beta of 1.71. 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 12-month low of $65.83 and a 12-month high of $88.22.

CarMax (NYSE:KMX) last announced its 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 return on equity of 6.83% and a net margin of 1.61%. CarMax’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, research analysts anticipate that CarMax, Inc. will post 3.01 earnings per share for the current fiscal year.

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.