CarMax, Inc. $KMX Shares Bought by Inkwell Capital LLC

Inkwell Capital LLC increased its stake in CarMax, Inc. (NYSE:KMX) by 35.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,515 shares of the company’s stock after acquiring an additional 16,804 shares during the period. CarMax makes up approximately 3.0% of Inkwell Capital LLC’s investment portfolio, making the stock its 19th biggest position. Inkwell Capital LLC’s holdings in CarMax were worth $2,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in CarMax during the 2nd quarter valued at $28,000. MUFG Securities EMEA plc bought a new stake in shares of CarMax in the 2nd quarter worth $30,000. Center for Financial Planning Inc. acquired a new stake in shares of CarMax in the third quarter valued at $31,000. Strengthening Families & Communities LLC boosted its stake in CarMax by 220.0% during the third quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock valued at $39,000 after buying an additional 605 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in CarMax by 121.1% during the third quarter. Smartleaf Asset Management LLC now owns 984 shares of the company’s stock worth $45,000 after acquiring an additional 539 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KMX shares. Needham & Company LLC reissued a “hold” rating on shares of CarMax in a report on Friday, November 7th. Wall Street Zen upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a report on Friday, January 9th. Morgan Stanley set a $35.00 price target on CarMax in a report on Monday, December 8th. Finally, Mizuho cut their price objective on CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $39.21.

CarMax Stock Down 4.9%

KMX stock opened at $42.34 on Tuesday. 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 firm has a market capitalization of $6.00 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.06 and a beta of 1.35. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $84.49. The company’s 50 day simple moving average is $43.54 and its 200-day simple moving average is $46.06.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 18th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue was down 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

About CarMax

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.