ProVise Management Group LLC Has $282,000 Stock Holdings in CarMax, Inc. $KMX

ProVise Management Group LLC decreased its stake in CarMax, Inc. (NYSE:KMX) by 95.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,340 shares of the company’s stock after selling 106,581 shares during the period. ProVise Management Group LLC’s holdings in CarMax were worth $282,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Basecamp Wealth Advisors LLC grew its stake in shares of CarMax by 105.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock worth $26,000 after buying an additional 327 shares during the last quarter. Huntington National Bank lifted 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 valued at $27,000 after acquiring an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of CarMax in the 2nd quarter valued at $28,000. Wellington Grp LLC boosted its holdings in shares of CarMax by 6,500.0% during the 1st quarter. Wellington Grp LLC now owns 726 shares of the company’s stock valued at $30,000 after acquiring an additional 715 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of CarMax during the 2nd quarter valued at $30,000.

Trending Headlines about CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: Zacks upgraded CarMax from “Hold” to “Strong Buy.” The firm raised multiple EPS forecasts, including estimates for FY2028 to $3.11 from $2.96 and FY2029 to $3.90 from $3.21. It also increased quarterly projections for Q1 2028, Q2 2028, Q3 2028, Q4 2028 and Q1 2029, signaling improving expectations for the used-car retailer’s longer-term earnings power. Zacks upgrade and earnings estimates
• Neutral Sentiment: CarMax’s latest reported quarter provides fundamental support: revenue increased 6.2% year over year to $8.01 billion and earnings of $1.31 per share exceeded the $0.96 analyst consensus. However, earnings were below the $1.38 per share reported in the prior-year period, and the company’s current-year consensus EPS estimate remains $2.73.
• Negative Sentiment: One valuation analysis says CarMax stock looks stretched following a 53% five-year slump and subsequent recovery. With shares near their 52-week high and trading at roughly 39 times earnings, investors may be concerned that the current valuation already discounts much of the expected improvement. CarMax stock looks stretched after a 53% five-year slump
• Negative Sentiment: A separate analysis concludes that CarMax could be approximately 7% above fair value, citing the impact of a leadership change. This raises the risk that the stock’s recent gains have outpaced its underlying fundamentals and could limit further upside. CarMax could be 7% above fair value on leadership change

Insiders Place Their Bets

In related news, Director Sona Chawla purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $53.39 per share, with a total value of $106,780.00. Following the completion of the purchase, the director owned 21,702 shares in the company, valued at approximately $1,158,669.78. This represents a 10.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Keith Barr purchased 9,400 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $53.01 per share, with a total value of $498,294.00. Following the purchase, the chief executive officer owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KMX. Robert W. Baird upped their target price on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $37.00 to $61.00 in a research report on Tuesday, July 21st. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price target on the stock in a research note on Thursday, June 18th. UBS Group set a $60.00 price target on CarMax in a report on Wednesday, July 29th. Finally, Zacks Research raised CarMax from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.00.

CarMax Price Performance

Shares of NYSE:KMX opened at $59.85 on Friday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $62.56. The firm has a market cap of $8.49 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 2.75 and a beta of 1.15. The firm’s fifty day moving average is $54.63 and its 200-day moving average is $46.50.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. Sell-side analysts predict that CarMax, Inc. will post 2.73 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.