Barclays PLC Has $23.94 Million Holdings in CarMax, Inc. $KMX

Key Points

• Barclays PLC increased its stake in CarMax by 14.6% to 533,488 shares worth $23.94 million, representing about 0.36% of the company.
• Activist investor Starboard has built roughly a $350 million stake, nominated two board candidates and is pushing for a digital overhaul and aggressive cost cuts, raising the likelihood of governance changes and near‑term stock volatility.
• Analyst sentiment is mixed: MarketBeat shows a consensus rating of "Reduce" with a $39.21 target, even as several firms have recently raised price targets and CarMax posted a modest EPS beat in its latest quarter.

Barclays PLC lifted its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 14.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 533,488 shares of the company's stock after acquiring an additional 67,934 shares during the period. Barclays PLC owned 0.36% of CarMax worth $23,938,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of CarMax during the second quarter worth about $208,144,000. AQR Capital Management LLC lifted its position in CarMax by 195.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company's stock valued at $298,107,000 after acquiring an additional 2,947,996 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in CarMax by 1,410.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,028,718 shares of the company's stock valued at $136,350,000 after purchasing an additional 1,894,408 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in CarMax by 795.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,846,406 shares of the company's stock valued at $124,097,000 after purchasing an additional 1,640,219 shares during the last quarter. Finally, Vulcan Value Partners LLC increased its holdings in CarMax by 135.2% during the 3rd quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company's stock worth $104,569,000 after purchasing an additional 1,338,134 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada raised their target price on CarMax from $34.00 to $37.00 and gave the company a "sector perform" rating in a report on Friday, December 19th. Zacks Research raised shares of CarMax from a "strong sell" rating to a "hold" rating in a research report on Monday, January 5th. Morgan Stanley set a $35.00 price target on shares of CarMax in a report on Monday, December 8th. Evercore set a $42.00 price objective on shares of CarMax in a research report on Tuesday, February 10th. Finally, Robert W. Baird increased their price objective on shares of CarMax from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $39.21.

CarMax News Roundup

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: Starboard built about a $350M stake and nominated two board candidates, increasing the likelihood of governance changes that can accelerate strategic fixes and unlock shareholder value. Starboard nominates two to CarMax board, source says
• Positive Sentiment: Starboard is urging a digital revamp and aggressive cost cutting (reports cite potential savings in the hundreds of millions), which could materially improve CarMax’s margins if implemented. Activist Starboard urges CarMax to overhaul digital sales, cut costs
• Neutral Sentiment: CarMax says engagement with Starboard has been “productive,” signaling constructive dialogue rather than an immediate proxy fight — this keeps a negotiated outcome more likely but leaves timelines uncertain. CarMax Issues Statement on Engagement With Starboard Value
• Negative Sentiment: Market reaction was mixed: shares initially rose on the activism news but later pulled back as investors digested execution risk and uncertainty over management’s response. Expect short-term volatility. ‘Our Engagement… Has Been Productive’: CarMax (KMX) Stock Slides on Starboard Push
• Negative Sentiment: Starboard is pressing for quick action from CarMax’s incoming CEO and deeper structural changes; implementation risk, potential management turnover, and disruption to operations could weigh on near-term results. Activist Starboard Pushes for Change at CarMax

CarMax Stock Up 0.9%

CarMax stock opened at $42.51 on Thursday. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $82.79. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 0.99 and a beta of 1.35. The firm has a 50 day simple moving average of $44.30 and a 200 day simple moving average of $44.85.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.12. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The business had revenue of $5.79 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The firm's quarterly revenue was down 6.9% on a year-over-year basis. On average, analysts predict that CarMax, Inc. will post 3.23 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.

Want to see what other hedge funds are holding KMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarMax, Inc. (NYSE:KMX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.