50,840 Shares in CarMax, Inc. (NYSE:KMX) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management bought a new position in shares of CarMax, Inc. (NYSE:KMX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,840 shares of the company’s stock, valued at approximately $3,934,000. CarMax comprises 1.3% of Neo Ivy Capital Management’s investment portfolio, making the stock its 2nd biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC increased its position in CarMax by 4.6% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock worth $217,000 after buying an additional 130 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings 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 valued at $456,000 after purchasing an additional 142 shares during the period. Allegheny Financial Group LTD increased its holdings in shares of CarMax by 4.1% in the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock valued at $264,000 after purchasing an additional 143 shares during the period. Sompo Asset Management Co. Ltd. increased its holdings in shares of CarMax by 1.6% in the third 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. Finally, Signaturefd LLC increased its holdings in shares of CarMax by 12.5% in the third quarter. Signaturefd LLC now owns 1,545 shares of the company’s stock valued at $120,000 after purchasing an additional 172 shares during the period.

CarMax Stock Down 1.3 %

KMX opened at $86.06 on Wednesday. The business’s fifty day moving average is $77.06 and its two-hundred day moving average is $76.89. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.75 and a beta of 1.71. CarMax, Inc. has a one year low of $65.38 and a one year high of $88.22.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KMX. Evercore ISI boosted their target price on CarMax from $81.00 to $83.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Truist Financial boosted their target price on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of CarMax in a report on Wednesday, October 16th. Wedbush restated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Finally, Stephens assumed coverage on CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $81.00.

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.