Oakview Capital Management L.P. Has $1.49 Million Stock Holdings in CarMax, Inc. (NYSE:KMX)

Oakview Capital Management L.P. decreased its position in shares of CarMax, Inc. (NYSE:KMX) by 77.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 20,373 shares of the company’s stock after selling 68,155 shares during the quarter. CarMax makes up approximately 4.7% of Oakview Capital Management L.P.’s portfolio, making the stock its 11th largest position. Oakview Capital Management L.P.’s holdings in CarMax were worth $1,494,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Baker Tilly Wealth Management LLC grew its stake in shares of CarMax by 4.6% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock valued at $217,000 after acquiring an additional 130 shares in the last quarter. GAMMA Investing LLC boosted its holdings in CarMax by 6.5% in the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after purchasing an additional 131 shares during the period. Peoples Bank KS boosted its holdings in CarMax by 10.0% in the 2nd quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock valued at $108,000 after purchasing an additional 135 shares during the period. Allegheny Financial Group LTD grew its position in shares of CarMax by 4.1% during the 2nd quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after purchasing an additional 143 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of CarMax by 3.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,010 shares of the company’s stock worth $461,000 after purchasing an additional 174 shares during the period.

Insiders Place Their Bets

In related news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Insiders sold a total of 184,012 shares of company stock valued at $14,803,843 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. StockNews.com raised CarMax to a “sell” rating in a report on Friday, July 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 price target on shares of CarMax in a research note on Friday, June 21st. Truist Financial increased their price objective on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their target price on shares of CarMax from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, CarMax presently has an average rating of “Hold” and a consensus price target of $78.92.

CarMax Price Performance

KMX stock opened at $77.29 on Friday. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The company has a 50 day simple moving average of $79.71 and a 200 day simple moving average of $76.37. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. Research analysts anticipate that CarMax, Inc. will post 2.99 EPS for the current fiscal year.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.