Rings Capital Management LLC Acquires 8,000 Shares of CarMax, Inc. (NYSE:KMX)

Rings Capital Management LLC grew its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 478,000 shares of the company's stock after buying an additional 8,000 shares during the period. CarMax makes up approximately 19.3% of Rings Capital Management LLC's holdings, making the stock its 2nd biggest position. Rings Capital Management LLC owned about 0.31% of CarMax worth $36,988,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Baker Tilly Wealth Management LLC raised its holdings in CarMax by 4.6% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company's stock worth $217,000 after acquiring an additional 130 shares during the period. Peoples Bank KS grew its position in shares of CarMax by 10.0% in the second quarter. Peoples Bank KS now owns 1,479 shares of the company's stock valued at $108,000 after purchasing an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of CarMax by 2.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company's stock worth $456,000 after purchasing an additional 142 shares during the period. Allegheny Financial Group LTD lifted its position in shares of CarMax by 4.1% during the 2nd quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company's stock worth $264,000 after purchasing an additional 143 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its stake in CarMax by 1.6% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 10,602 shares of the company's stock valued at $820,000 after purchasing an additional 170 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $105.00 price target on shares of CarMax in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their target price on shares of CarMax from $55.00 to $65.00 and gave the stock an "underweight" rating in a research report on Thursday, September 19th. BNP Paribas upgraded shares of CarMax to a "strong sell" rating in a research note on Friday, September 27th. Truist Financial raised their price target on shares of CarMax from $70.00 to $75.00 and gave the stock a "hold" rating in a research report on Monday, September 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $79.73.

CarMax Price Performance

NYSE KMX traded down $0.50 during trading on Thursday, reaching $84.59. 1,510,909 shares of the company traded hands, compared to its average volume of 1,906,124. CarMax, Inc. has a 1-year low of $62.90 and a 1-year high of $88.22. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 1.73 and a beta of 1.68. The stock's 50 day moving average price is $75.62 and its two-hundred day moving average price is $76.07. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm earned $0.75 EPS. CarMax's quarterly revenue was down .9% compared to the same quarter last year. As a group, analysts anticipate that CarMax, Inc. will post 2.99 EPS for the current year.

CarMax Company 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.