CarMax, Inc. $KMX Stake Raised by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. increased its holdings in CarMax, Inc. (NYSE:KMX) by 25.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,927 shares of the company’s stock after purchasing an additional 45,290 shares during the period. CarMax accounts for 1.6% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 24th biggest position. Kinsale Capital Group Inc.’s holdings in CarMax were worth $12,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaCore Capital LLC boosted its stake in CarMax by 80.4% in the 3rd quarter. AlphaCore Capital LLC now owns 8,464 shares of the company’s stock worth $466,000 after buying an additional 3,771 shares during the last quarter. Fulcrum Asset Management LLP lifted its holdings in shares of CarMax by 92.4% during the 3rd quarter. Fulcrum Asset Management LLP now owns 8,407 shares of the company’s stock worth $498,000 after acquiring an additional 4,037 shares during the period. Brighton Jones LLC lifted its holdings in shares of CarMax by 16.9% during the 3rd quarter. Brighton Jones LLC now owns 34,761 shares of the company’s stock worth $1,916,000 after acquiring an additional 5,026 shares during the period. Candriam S.C.A. purchased a new position in shares of CarMax during the 3rd quarter worth about $455,000. Finally, Allegiance Financial Group Advisory Services LLC boosted its position in shares of CarMax by 23.9% in the third quarter. Allegiance Financial Group Advisory Services LLC now owns 6,390 shares of the company’s stock worth $352,000 after acquiring an additional 1,233 shares during the last quarter.

Analyst Ratings Changes

KMX has been the subject of a number of recent analyst reports. BNP Paribas Exane restated a “strong sell” rating and issued a $48.00 target price (up from $33.00) on shares of CarMax in a report on Wednesday, September 30th. Royal Bank Of Canada increased their price target on shares of CarMax from $45.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 30th. Morgan Stanley lifted their price target on shares of CarMax from $47.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, September 30th. Stephens lifted their price target on shares of CarMax from $66.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, September 25th. Finally, Wall Street Zen cut shares of CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $58.00.

CarMax Stock Up 5.3%

Shares of NYSE KMX opened at $54.21 on Tuesday. The stock has a fifty day moving average price of $56.00 and a 200 day moving average price of $49.65. The company has a current ratio of 2.33, a quick ratio of 0.57 and a debt-to-equity ratio of 2.66. CarMax, Inc. has a 12-month low of $31.81 and a 12-month high of $65.28. The company has a market cap of $7.69 billion, a P/E ratio of 26.45, a P/E/G ratio of 1.52 and a beta of 1.22.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Tuesday, September 29th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.43. CarMax had a return on equity of 7.76% and a net margin of 1.06%. The company had revenue of $7.88 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. Research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

CarMax Company Profile

CarMax, Inc is a U.S. used-vehicle retailer headquartered in Richmond, Virginia. The company sells used cars, trucks and SUVs through a network of retail stores and online platforms, where customers can browse vehicles and complete parts of the buying process digitally.

In addition to retail sales, CarMax buys vehicles from consumers and operates wholesale auctions for vehicles that are not sold through its retail stores. Its related services include vehicle financing through CarMax Auto Finance and optional vehicle protection products.

CarMax opened its first store in Richmond in 1993 and has since expanded its operations across the United States.