Brevan Howard Capital Management LP Buys 48,102 Shares of CarMax, Inc. $KMX

Brevan Howard Capital Management LP raised its stake in CarMax, Inc. (NYSE:KMX) by 193.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,944 shares of the company’s stock after buying an additional 48,102 shares during the period. Brevan Howard Capital Management LP’s holdings in CarMax were worth $3,273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of CarMax by 195.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock worth $298,107,000 after acquiring an additional 2,947,996 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in CarMax by 33.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company’s stock valued at $165,358,000 after acquiring an additional 918,553 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in CarMax by 73.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock valued at $158,074,000 after acquiring an additional 1,494,205 shares during the last quarter. Invesco Ltd. raised its position in CarMax by 14.2% during the third quarter. Invesco Ltd. now owns 3,425,737 shares of the company’s stock valued at $153,713,000 after purchasing an additional 426,809 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in CarMax by 6.6% during the second quarter. Baird Financial Group Inc. now owns 3,298,113 shares of the company’s stock worth $221,666,000 after purchasing an additional 204,481 shares during the last quarter.

Analysts Set New Price Targets

KMX has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a report on Friday, January 9th. Benchmark reissued a “hold” rating on shares of CarMax in a report on Tuesday, December 16th. Wedbush dropped their target price on CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Zacks Research raised CarMax from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $39.21.

CarMax Stock Down 0.3%

Shares of NYSE:KMX opened at $41.70 on Tuesday. The stock’s 50-day moving average is $44.42 and its 200 day moving average is $44.32. The company has a market cap of $5.91 billion, a PE ratio of 13.76, a P/E/G ratio of 0.99 and a beta of 1.35. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 0.51. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $82.79.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.12. The business had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The business’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Sell-side analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

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.