CarMaxKMX
Market Cap: $12.4B
About: CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.
Employees: 29,836
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
43% more repeat investments, than reductions
Existing positions increased: 300 | Existing positions reduced: 210
16% more call options, than puts
Call options by funds: $295M | Put options by funds: $253M
0.5% less ownership
Funds ownership: 108.96% [Q1] → 108.46% (-0.5%) [Q2]
1% less funds holding
Funds holding: 703 [Q1] → 693 (-10) [Q2]
12% less first-time investments, than exits
New positions opened: 72 | Existing positions closed: 82
17% less capital invested
Capital invested by funds: $15B [Q1] → $12.4B (-$2.55B) [Q2]
21% less funds holding in top 10
Funds holding in top 10: 28 [Q1] → 22 (-6) [Q2]
Research analyst outlook
12 Wall Street Analysts provided 1 year price targets over the past 3 months
12 analyst ratings
Wedbush Seth Basham 57% 1-year accuracy 47 / 82 met price target | 20%upside $95 | Outperform Reiterated | 16 Aug 2024 |
Wedbush Seth Basham 57% 1-year accuracy 47 / 82 met price target | 20%upside $95 | Outperform Maintained | 17 Jul 2024 |
Evercore ISI Group Michael Montani 43% 1-year accuracy 6 / 14 met price target | 9%downside $72 | In-Line Maintained | 16 Jul 2024 |
RBC Capital Steven Shemesh 61% 1-year accuracy 27 / 44 met price target | 6%downside $75 | Outperform Maintained | 24 Jun 2024 |
Oppenheimer Brian Nagel 50% 1-year accuracy 5 / 10 met price target | 32%upside $105 | Outperform Maintained | 24 Jun 2024 |
Financial journalist opinion
Based on 4 articles about KMX published over the past 30 days