KMX

Vanguard Group Increases Position in CarMax (KMX)

Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 17.82MM shares of CarMax, Inc (KMX). This represents 11.28% of the company.

In their previous filing dated February 9, 2022 they reported 17.39MM shares and 10.74% of the company, an increase in shares of 2.50% and an increase in total ownership of 0.54% (calculated as current - previous percent ownership).

Analyst Price Forecast Suggests 17.51% Downside

As of February 8, 2023, the average one-year price target for CarMax is $62.88. The forecasts range from a low of $26.26 to a high of $85.05. The average price target represents a decrease of 17.51% from its latest reported closing price of $76.22.

The projected annual revenue for CarMax is $32,496MM, a decrease of 1.68%. The projected annual EPS is $4.04, an increase of 12.14%.

What is the Fund Sentiment?

There are 1250 funds or institutions reporting positions in CarMax. This is a decrease of 49 owner(s) or 3.77% in the last quarter. Average portfolio weight of all funds dedicated to KMX is 0.31%, a decrease of 14.58%. Total shares owned by institutions increased in the last three months by 2.72% to 216,937K shares. The put/call ratio of KMX is 2.43, indicating a bearish outlook.

What are large shareholders doing?

KMX / CarMax, Inc Ownership

Principal Financial Group holds 10,437K shares representing 6.61% ownership of the company. In it's prior filing, the firm reported owning 10,555K shares, representing a decrease of 1.13%. The firm decreased its portfolio allocation in KMX by 53.22% over the last quarter.

Capital Research Global Investors holds 7,997K shares representing 5.06% ownership of the company. In it's prior filing, the firm reported owning 7,102K shares, representing an increase of 11.18%. The firm decreased its portfolio allocation in KMX by 13.35% over the last quarter.

Akre Capital Management holds 7,353K shares representing 4.65% ownership of the company. In it's prior filing, the firm reported owning 7,348K shares, representing an increase of 0.07%. The firm decreased its portfolio allocation in KMX by 19.54% over the last quarter.

PMSBX - MidCap Fund (f holds 6,672K shares representing 4.22% ownership of the company. In it's prior filing, the firm reported owning 6,640K shares, representing an increase of 0.49%. The firm decreased its portfolio allocation in KMX by 30.47% over the last quarter.

Ruane, Cunniff & Goldfarb holds 6,469K shares representing 4.09% ownership of the company. In it's prior filing, the firm reported owning 6,708K shares, representing a decrease of 3.70%. The firm decreased its portfolio allocation in KMX by 19.79% over the last quarter.

Carmax Background Information
(This description is provided by the company.)

CarMax, the nation's largest retailer of used cars, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. CarMax also provides a variety of vehicle delivery methods, including home delivery, contactless curbside pickup and appointments in its stores. During the fiscal year ending February 29, 2020, CarMax sold more than 830,000 used cars and more than 465,000 wholesale vehicles at its in-store auctions. CarMax has 220 stores, over 25,000 Associates, and is proud to have been recognized for 16 consecutive years as one of the Fortune 100 Best Companies to Work For®.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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