ProVise Management Group LLC Has $282,000 Position in CarMax, Inc. $KMX

ProVise Management Group LLC cut its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 95.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,340 shares of the company's stock after selling 106,581 shares during the quarter. ProVise Management Group LLC's holdings in CarMax were worth $282,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SRS Investment Management LLC grew its stake in CarMax by 1,717.5% in the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company's stock valued at $217,845,000 after buying an additional 5,327,603 shares during the last quarter. AQR Capital Management LLC lifted its position in CarMax by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company's stock worth $306,429,000 after acquiring an additional 4,780,903 shares during the last quarter. Norges Bank acquired a new stake in CarMax during the fourth quarter worth approximately $159,232,000. Arrowstreet Capital Limited Partnership boosted its holdings 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 acquiring an additional 1,494,205 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in shares of CarMax during the first quarter worth approximately $48,634,000.

CarMax Stock Performance

Shares of CarMax stock opened at $59.85 on Friday. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. The company has a market cap of $8.49 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 2.75 and a beta of 1.15. The company has a 50 day moving average of $54.63 and a 200-day moving average of $46.50. 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 announced its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion for the quarter, compared to analysts' expectations of $7.42 billion. During the same period last year, the firm posted $1.38 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that CarMax, Inc. will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KMX shares. Robert W. Baird increased their target price on CarMax from $48.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, June 18th. Barclays upgraded CarMax from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $37.00 to $61.00 in a research note on Tuesday, July 21st. Weiss Ratings raised CarMax from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 20th. Mizuho increased their price objective on CarMax from $38.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, June 18th. Finally, Truist Financial lifted their target price on CarMax from $47.00 to $50.00 and gave the stock a "hold" rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $51.00.

Insider Activity

In other CarMax news, CEO Keith Barr purchased 9,400 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the purchase, the chief executive officer owned 33,375 shares in the company, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sona Chawla purchased 2,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, with a total value of $106,780.00. Following the acquisition, the director directly owned 21,702 shares in the company, valued at $1,158,669.78. This represents a 10.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 13,900 shares of company stock worth $735,574. Insiders own 1.01% of the company's stock.

Key Stories Impacting CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: Zacks upgraded CarMax from “Hold” to “Strong Buy.” The firm raised multiple EPS forecasts, including estimates for FY2028 to $3.11 from $2.96 and FY2029 to $3.90 from $3.21. It also increased quarterly projections for Q1 2028, Q2 2028, Q3 2028, Q4 2028 and Q1 2029, signaling improving expectations for the used-car retailer’s longer-term earnings power. Zacks upgrade and earnings estimates
• Neutral Sentiment: CarMax’s latest reported quarter provides fundamental support: revenue increased 6.2% year over year to $8.01 billion and earnings of $1.31 per share exceeded the $0.96 analyst consensus. However, earnings were below the $1.38 per share reported in the prior-year period, and the company’s current-year consensus EPS estimate remains $2.73.
• Negative Sentiment: One valuation analysis says CarMax stock looks stretched following a 53% five-year slump and subsequent recovery. With shares near their 52-week high and trading at roughly 39 times earnings, investors may be concerned that the current valuation already discounts much of the expected improvement. CarMax stock looks stretched after a 53% five-year slump
• Negative Sentiment: A separate analysis concludes that CarMax could be approximately 7% above fair value, citing the impact of a leadership change. This raises the risk that the stock’s recent gains have outpaced its underlying fundamentals and could limit further upside. CarMax could be 7% above fair value on leadership change

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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