Norges Bank Purchases Shares of 4,120,921 CarMax, Inc. $KMX

Norges Bank purchased a new stake in shares of CarMax, Inc. (NYSE:KMX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,120,921 shares of the company’s stock, valued at approximately $159,232,000. Norges Bank owned about 2.91% of CarMax as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new position in shares of CarMax in the 4th quarter worth approximately $56,000. Huntington National Bank boosted its stake in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after buying an additional 265 shares during the last quarter. Redmond Asset Management LLC boosted its stake in shares of CarMax by 1.8% in the 4th quarter. Redmond Asset Management LLC now owns 53,081 shares of the company’s stock worth $2,051,000 after buying an additional 938 shares during the last quarter. Vulcan Value Partners LLC raised its holdings in shares of CarMax by 25.8% in the 4th quarter. Vulcan Value Partners LLC now owns 2,928,832 shares of the company’s stock worth $113,210,000 after purchasing an additional 600,712 shares during the period. Finally, Cary Street Partners Financial LLC bought a new stake in shares of CarMax in the 4th quarter worth approximately $127,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KMX shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a report on Wednesday, April 8th. Robert W. Baird lifted their price target on shares of CarMax from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. UBS Group started coverage on shares of CarMax in a report on Wednesday, May 27th. They issued a “neutral” rating and a $42.00 price target on the stock. Bank of America started coverage on shares of CarMax in a report on Wednesday, April 15th. They issued an “underperform” rating and a $40.00 price target on the stock. Finally, Evercore set a $45.00 price target on shares of CarMax in a report on Friday, April 10th. One research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Reduce” and an average price target of $41.27.

CarMax Trading Up 4.9%

Shares of KMX stock opened at $46.09 on Thursday. The company’s fifty day simple moving average is $40.80 and its two-hundred day simple moving average is $41.47. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.20 and a quick ratio of 0.49. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $71.99. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.66 and a beta of 1.21.

CarMax (NYSE:KMX) last issued its earnings results on Tuesday, April 14th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The business had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, analysts anticipate that CarMax, Inc. will post 2.3 earnings per share for the current year.

CarMax Profile

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.