CarMax, Inc. (NYSE:KMX) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in CarMax, Inc. (NYSE:KMX) by 26.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,178 shares of the company’s stock after acquiring an additional 7,795 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CarMax were worth $2,877,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in CarMax in the second quarter valued at $29,000. Quarry LP raised its holdings in CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in CarMax in the third quarter valued at $32,000. Blue Trust Inc. increased its stake in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the last quarter. Finally, Studio Investment Management LLC increased its stake in CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of CarMax from $81.00 to $83.00 and gave the company an “in-line” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Truist Financial boosted their target price on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $80.09.

CarMax Stock Performance

Shares of KMX opened at $84.22 on Wednesday. The firm has a 50-day moving average price of $76.06 and a 200 day moving average price of $76.28. The firm has a market capitalization of $13.05 billion, a PE ratio of 31.66, a P/E/G ratio of 1.69 and a beta of 1.71. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 52-week low of $64.72 and a 52-week high of $88.22.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, sell-side analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.