NewEdge Advisors LLC Increases Stake in CarMax, Inc. $KMX

NewEdge Advisors LLC increased its stake in CarMax, Inc. (NYSE:KMX) by 63.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,568 shares of the company’s stock after buying an additional 26,888 shares during the period. NewEdge Advisors LLC’s holdings in CarMax were worth $2,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SRS Investment Management LLC grew its holdings in shares of CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after acquiring an additional 5,327,603 shares during the period. AQR Capital Management LLC lifted its stake in shares of CarMax by 151.8% in the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock valued at $306,429,000 after purchasing an additional 4,780,903 shares during the period. Norges Bank bought a new stake in shares of CarMax during the fourth quarter valued at approximately $159,232,000. Arrowstreet Capital Limited Partnership boosted its position in shares of CarMax by 73.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock valued at $158,074,000 after purchasing an additional 1,494,205 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in CarMax by 1,467.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,149,000 shares of the company’s stock worth $44,397,000 after purchasing an additional 1,075,700 shares during the period.

CarMax Price Performance

NYSE KMX opened at $59.93 on Friday. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 2.69 and a beta of 1.15. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $62.56. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The business’s fifty day moving average price is $54.37 and its 200-day moving average price is $46.40.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. On average, equities analysts predict that CarMax, Inc. will post 2.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Peter J. Bensen purchased 2,500 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the purchase, the director directly owned 24,796 shares in the company, valued at $1,294,351.20. This trade represents a 11.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sona Chawla purchased 2,000 shares of CarMax stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director directly owned 21,702 shares in the company, valued at approximately $1,158,669.78. The trade was a 10.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 13,900 shares of company stock valued at $735,574. Insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KMX. Weiss Ratings upgraded CarMax from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price target for the company in a research note on Thursday, June 18th. Robert W. Baird lifted their price target on shares of CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Finally, Mizuho boosted their price objective on shares of CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, CarMax has an average rating of “Hold” and an average target price of $51.00.

Key Stories Impacting CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: Zacks upgraded CarMax to “Strong Buy.” The firm added KMX to its Rank #1 Strong Buy list, providing a positive near-term sentiment catalyst. New Strong Buy Stocks for August 12th
• Positive Sentiment: Analysts raised several future EPS estimates. Zacks increased its forecast to $0.97 for Q2 fiscal 2028, $0.84 for Q3 fiscal 2028, $3.11 for full-year fiscal 2028, and $1.13 for Q1 fiscal 2029. The full-year fiscal 2028 estimate rose from $2.96, suggesting improving confidence in CarMax’s earnings trajectory. Zacks Research CarMax earnings estimates
• Positive Sentiment: Leadership changes may improve the company’s fair value outlook. A Yahoo Finance analysis suggests CarMax could be approximately 7% above its estimated fair value in connection with its leadership transition, making management execution an important focus for investors. CarMax Could Be 7% Above Fair Value On Leadership Change
• Neutral Sentiment: CarMax was named to PEOPLE’s 2026 Companies That Care list, ranking 70th for the seventh time. The recognition supports the company’s employee and community reputation but is unlikely to materially affect near-term earnings. CarMax Named one of the 2026 PEOPLE Companies That Care
• Negative Sentiment: Valuation remains a concern. KMX’s price is above the reported analyst median target of $45, while several recent analysts maintained cautious or underperform ratings. This creates downside risk if earnings growth does not justify the elevated multiple.
• Negative Sentiment: A shareholder-rights law firm is investigating CarMax directors and officers for potential breaches of fiduciary duty. Although no wrongdoing has been established, the investigation introduces legal, governance, and reputational risks. CarMax Shareholder Investigation Alert

CarMax Company 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.