Charles Schwab Investment Management Inc. Buys 436,342 Shares of CarMax, Inc. (NYSE:KMX)

Charles Schwab Investment Management Inc. raised its stake in shares of CarMax, Inc. (NYSE:KMX) by 41.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,479,340 shares of the company’s stock after buying an additional 436,342 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in CarMax were worth $114,471,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. First Community Trust NA purchased a new position in shares of CarMax in the 2nd quarter worth about $29,000. Quarry LP increased its stake in CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in CarMax in the third quarter worth about $32,000. Blue Trust Inc. lifted its stake in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares in the last quarter. Finally, Studio Investment Management LLC grew its holdings in shares of 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 buying an additional 334 shares during the last quarter.

CarMax Price Performance

Shares of NYSE:KMX opened at $85.15 on Tuesday. The firm’s 50 day moving average price is $75.36 and its 200-day moving average price is $75.92. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of $13.19 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 1.66 and a beta of 1.68. CarMax, Inc. has a twelve month low of $62.90 and a twelve month high of $88.22.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KMX. JPMorgan Chase & Co. boosted their price objective on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. BNP Paribas upgraded CarMax to a “strong sell” rating in a research note on Friday, September 27th. 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. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research report on Friday, October 4th. Finally, Truist Financial upped 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. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, CarMax presently has an average rating of “Hold” and an average price target of $79.73.

About CarMax

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.