48,800 CarMax, Inc. $KMX Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its CarMax stake by 166.6%, purchasing 48,800 additional shares to reach 78,100 shares valued at approximately $4.3 million.
• CarMax exceeded quarterly expectations, reporting $1.16 in EPS versus the $0.73 consensus estimate and $7.88 billion in revenue, up 19.5% year over year.
• Analyst sentiment remains mixed: CarMax has an average “Hold” rating and a consensus price target of $57.85, despite several analysts raising their targets, including Stephens to $74 and Bank of America to $65.

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 166.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 78,100 shares of the company's stock after buying an additional 48,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.06% of CarMax worth $4,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KMX. Global Retirement Partners LLC acquired a new position in shares of CarMax during the second quarter worth $29,000. Basecamp Wealth Advisors LLC lifted its stake in shares of CarMax by 105.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 327 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of CarMax during the 2nd quarter valued at $37,000. Wellington Grp LLC boosted its holdings in shares of CarMax by 6,500.0% during the 1st quarter. Wellington Grp LLC now owns 726 shares of the company's stock valued at $30,000 after acquiring an additional 715 shares in the last quarter. Finally, Aberdeen Wealth Management LLC bought a new stake in CarMax during the 2nd quarter worth $39,000.

CarMax Stock Performance

NYSE KMX opened at $55.62 on Monday. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.54 and a beta of 1.22. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $65.28. The stock has a fifty day simple moving average of $57.09 and a 200 day simple moving average of $49.47. The company has a quick ratio of 0.57, a current ratio of 2.33 and a debt-to-equity ratio of 2.66.

CarMax (NYSE:KMX - Get Free Report) last announced its earnings results on Tuesday, September 29th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.43. The business had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.09 billion. CarMax had a return on equity of 7.76% and a net margin of 1.06%. CarMax's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. Sell-side analysts expect that CarMax, Inc. will post 3.15 EPS for the current year.

Analysts Set New Price Targets

KMX has been the subject of a number of recent research reports. Bank of America raised CarMax from an "underperform" rating to a "buy" rating and upped their target price for the stock from $50.00 to $65.00 in a report on Thursday, October 15th. Wall Street Zen downgraded CarMax from a "buy" rating to a "hold" rating in a research report on Saturday. Stephens lifted their price target on CarMax from $66.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, September 25th. Truist Financial boosted their price target on CarMax from $50.00 to $60.00 and gave the stock a "hold" rating in a report on Wednesday, September 30th. Finally, UBS Group set a $65.00 price objective on CarMax in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CarMax presently has an average rating of "Hold" and a consensus price target of $57.85.

CarMax Company Profile

CarMax, Inc is a specialty retailer of used vehicles and operates one of the largest used-car sales networks in the United States. The company sells a broad selection of pre-owned cars, trucks and SUVs through its retail stores and online platform, offering customers tools for vehicle search, appraisal, financing and purchase.

CarMax also operates a vehicle appraisal and acquisition business, buying vehicles from consumers and other sources for resale through its retail or wholesale channels.

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