CarMax, Inc. $KMX Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 70.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 331,434 shares of the company's stock after buying an additional 137,162 shares during the quarter. First Trust Advisors LP owned 0.23% of CarMax worth $13,781,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in KMX. SRS Investment Management LLC raised its position in CarMax by 1,717.5% during the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company's stock worth $217,845,000 after acquiring an additional 5,327,603 shares during the period. AQR Capital Management LLC grew its position in shares of CarMax by 151.8% in the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company's stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the period. Norges Bank acquired a new stake in shares of CarMax in the fourth quarter valued at about $159,232,000. Arrowstreet Capital Limited Partnership increased its stake in shares of CarMax by 73.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company's stock worth $158,074,000 after purchasing an additional 1,494,205 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of CarMax by 1,467.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,149,000 shares of the company's stock worth $44,397,000 after purchasing an additional 1,075,700 shares in the last quarter.

CarMax Trading Down 0.5%

Shares of CarMax stock opened at $58.84 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The stock's 50 day simple moving average is $51.40 and its 200-day simple moving average is $45.64. The stock has a market cap of $8.35 billion, a P/E ratio of 38.46, a P/E/G ratio of 2.74 and a beta of 1.17. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $62.56.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The firm had revenue of $8.01 billion during the quarter, compared to analysts' expectations of $7.42 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. Analysts predict that CarMax, Inc. will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded CarMax from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 20th. Truist Financial raised their target price on CarMax from $47.00 to $50.00 and gave the company a "hold" rating in a research report on Thursday, June 18th. Royal Bank Of Canada boosted their price target on CarMax from $41.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 18th. Argus raised CarMax to a "hold" rating in a research note on Thursday, April 16th. Finally, Wall Street Zen upgraded CarMax from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, CarMax currently has a consensus rating of "Reduce" and a consensus price target of $51.00.

Key Headlines Impacting CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: JPMorgan upgraded CarMax from “underweight” to “neutral” and raised its price target to $60 from $38. The change suggests the analyst believes the company’s outlook has improved and removes a prior source of selling pressure. JPMorgan upgrades CarMax
• Positive Sentiment: Analyst commentary indicates CarMax is learning from past mistakes. The development supports the view that management and operations may be improving, helping explain the stock’s sharp relative performance. CarMax is learning from past mistakes
• Positive Sentiment: CarMax’s strong share-price performance is drawing attention from investment managers. Vulcan Value Partners discussed the company in its second-quarter 2026 investor letter, adding visibility among long-term, value-focused investors. Vulcan Value Partners on CarMax
• Positive Sentiment: Zacks identified KMX as a strong momentum stock. Its favorable momentum assessment reinforces the market’s current bullish technical trend, though it does not necessarily indicate improved fundamentals. Why CarMax is a strong momentum stock
• Neutral Sentiment: Comparisons with Carvana highlight KMX’s relative strength, but the article cautions that Carvana’s weaker stock performance—despite record results—does not automatically make CarMax the better investment. Investors should weigh valuation, execution and growth prospects rather than simply switching between the two companies. Carvana and CarMax investment comparison
• Negative Sentiment: Bernstein Liebhard announced a shareholder investigation into potential breaches of fiduciary duty by CarMax directors and officers. The investigation is preliminary, but it creates legal and governance uncertainty that could weigh on sentiment. CarMax shareholder investigation

Insider Buying and Selling at CarMax

In related news, CEO Keith Barr bought 9,400 shares of the business's stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $53.01 per share, with a total value of $498,294.00. Following the purchase, the chief executive officer directly owned 33,375 shares of the company's stock, valued at $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter J. Bensen purchased 2,500 shares of CarMax stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the acquisition, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 13,900 shares of company stock worth $735,574 in the last three months. 1.01% of the stock is owned by corporate insiders.

CarMax Company Profile

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.

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