Fintel reports that on September 29, 2023, Stephens & Co. maintained coverage of Carmax (NYSE:KMX) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 19.51% Upside
As of August 31, 2023, the average one-year price target for Carmax is 82.47. The forecasts range from a low of 44.44 to a high of $110.25. The average price target represents an increase of 19.51% from its latest reported closing price of 69.01.
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The projected annual revenue for Carmax is 32,191MM, an increase of 12.78%. The projected annual non-GAAP EPS is 4.53.
What is the Fund Sentiment?
There are 1294 funds or institutions reporting positions in Carmax. This is a decrease of 20 owner(s) or 1.52% in the last quarter. Average portfolio weight of all funds dedicated to KMX is 0.39%, an increase of 18.84%. Total shares owned by institutions decreased in the last three months by 5.39% to 205,298K shares. 
The put/call ratio of KMX is 1.61, indicating a bearish outlook.
What are Other Shareholders Doing?
Principal Financial Group holds 10,025K shares representing 6.34% ownership of the company. In it's prior filing, the firm reported owning 10,278K shares, representing a decrease of 2.53%. The firm increased its portfolio allocation in KMX by 21.41% over the last quarter.
PMSBX - MidCap Fund (f holds 6,295K shares representing 3.98% ownership of the company. In it's prior filing, the firm reported owning 6,353K shares, representing a decrease of 0.92%. The firm increased its portfolio allocation in KMX by 7.51% over the last quarter.
Ruane, Cunniff & Goldfarb holds 6,030K shares representing 3.81% ownership of the company. In it's prior filing, the firm reported owning 6,133K shares, representing a decrease of 1.71%. The firm increased its portfolio allocation in KMX by 23.60% over the last quarter.
Primecap Management holds 5,816K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 5,936K shares, representing a decrease of 2.08%. The firm increased its portfolio allocation in KMX by 22.24% over the last quarter.
Capital Research Global Investors holds 5,665K shares representing 3.58% ownership of the company. In it's prior filing, the firm reported owning 5,560K shares, representing an increase of 1.85%. The firm increased its portfolio allocation in KMX by 24.57% 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®.
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