JPMorgan Chase & Co. Decreases Stock Holdings in CarMax, Inc. $KMX

Key Points

• JPMorgan Chase & Co. cut its stake in CarMax by 52.0% in Q3, selling 341,685 shares and leaving it with 315,305 shares worth about $14.15 million (roughly 0.22% of the company).
• At the same time, several other institutions materially increased positions — notably Dimensional Fund Advisors (+33.2% to 3.685 million shares), Vulcan Value Partners (+135.2% to 2.328 million shares) and Silver Heights (+39.5%) — signaling mixed institutional sentiment.
• Analysts are cautious: MarketBeat shows a consensus rating of "Reduce" with a consensus target price of $39.21, while KMX recently traded around $42.65 (12‑month range $30.26–$82.79).

JPMorgan Chase & Co. lowered its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 52.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 315,305 shares of the company's stock after selling 341,685 shares during the period. JPMorgan Chase & Co. owned approximately 0.22% of CarMax worth $14,149,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KMX. Silver Heights Capital Management Inc increased its holdings in CarMax by 39.5% in the 3rd quarter. Silver Heights Capital Management Inc now owns 926,167 shares of the company's stock valued at $41,557,000 after purchasing an additional 262,478 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of CarMax by 129.4% during the third quarter. Intech Investment Management LLC now owns 86,444 shares of the company's stock worth $3,879,000 after purchasing an additional 48,757 shares in the last quarter. True North Advisors LLC boosted its position in shares of CarMax by 66.6% in the third quarter. True North Advisors LLC now owns 123,742 shares of the company's stock worth $5,552,000 after buying an additional 49,450 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CarMax by 33.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company's stock worth $165,358,000 after buying an additional 918,553 shares during the period. Finally, Vulcan Value Partners LLC grew its stake in shares of CarMax by 135.2% in the third quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company's stock valued at $104,569,000 after buying an additional 1,338,134 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KMX shares. Evercore set a $42.00 price target on CarMax in a research report on Tuesday, February 10th. Mizuho dropped their price objective on shares of CarMax from $46.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, December 19th. Royal Bank Of Canada boosted their target price on shares of CarMax from $34.00 to $37.00 and gave the stock a "sector perform" rating in a research report on Friday, December 19th. Morgan Stanley set a $35.00 target price on shares of CarMax in a research note on Monday, December 8th. Finally, Wall Street Zen downgraded shares of CarMax from a "hold" rating to a "sell" rating in a research note on Saturday, March 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $39.21.

CarMax Trading Up 1.8%

NYSE KMX opened at $42.65 on Friday. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $82.79. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 0.51. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.07 and a beta of 1.35. The company's fifty day moving average price is $43.97 and its two-hundred day moving average price is $43.52.

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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