M&T Bank Corp Purchases 44,696 Shares of CarMax, Inc. $KMX

Key Points

• M&T Bank Corp boosted its CarMax stake by 694.3%, adding 44,696 shares to hold 51,134 shares worth about $1.98 million at the end of the quarter.
• Analyst sentiment is mixed-to-negative—one Buy, 13 Hold and five Sell—resulting in a MarketBeat average rating of "Reduce" and an average price target of $41.21.
• CarMax topped quarterly EPS estimates ($0.34 vs. $0.22) on $5.95 billion in revenue (down 1% YoY); shares trade near $38.63 with a 52-week range of $30.26–$71.99 and a market cap of $5.48 billion.

M&T Bank Corp boosted its position in CarMax, Inc. (NYSE:KMX - Free Report) by 694.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,134 shares of the company's stock after acquiring an additional 44,696 shares during the quarter. M&T Bank Corp's holdings in CarMax were worth $1,976,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock valued at $419,000 after acquiring an additional 161 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock valued at $2,446,000 after acquiring an additional 173 shares during the last quarter. Blue Trust Inc. boosted its position in CarMax by 20.0% in the fourth quarter. Blue Trust Inc. now owns 1,424 shares of the company's stock valued at $55,000 after buying an additional 237 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in CarMax by 4.2% in the third quarter. Resonant Capital Advisors LLC now owns 6,388 shares of the company's stock valued at $287,000 after buying an additional 256 shares in the last quarter. Finally, Ossiam boosted its position in CarMax by 19.5% in the second quarter. Ossiam now owns 1,713 shares of the company's stock valued at $115,000 after buying an additional 280 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on KMX. Wall Street Zen lowered shares of CarMax from a "hold" rating to a "sell" rating in a research report on Saturday, April 18th. Evercore set a $45.00 target price on shares of CarMax in a research report on Friday, April 10th. JPMorgan Chase & Co. raised their target price on shares of CarMax from $28.00 to $35.00 and gave the company an "underweight" rating in a research report on Wednesday, April 15th. Argus upgraded shares of CarMax to a "hold" rating in a research report on Thursday, April 16th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of CarMax in a research report on Wednesday, April 8th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, CarMax has an average rating of "Reduce" and an average price target of $41.21.

CarMax Price Performance

Shares of NYSE:KMX opened at $38.63 on Wednesday. The firm has a market cap of $5.48 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. The firm's fifty day moving average is $42.02 and its 200-day moving average is $41.58. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.49 and a current ratio of 2.20. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $71.99.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.12. The company had revenue of $5.95 billion for the quarter, compared to analyst estimates of $5.65 billion. CarMax had a net margin of 0.96% and a return on equity of 7.00%. CarMax's revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. Sell-side analysts predict that CarMax, Inc. will post 2.41 earnings per share for the current year.

CarMax 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.

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.