Vulcan Value Partners LLC Has $133.77 Million Holdings in CarMax, Inc. (NYSE:KMX)

Vulcan Value Partners LLC raised its stake in shares of CarMax, Inc. (NYSE:KMX) by 299.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,827,139 shares of the company’s stock after purchasing an additional 1,369,986 shares during the period. CarMax accounts for approximately 2.0% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 19th biggest position. Vulcan Value Partners LLC owned approximately 1.17% of CarMax worth $133,773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of CarMax by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after acquiring an additional 222,132 shares during the last quarter. Morningstar Investment Services LLC increased its position in CarMax by 95.4% during the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after purchasing an additional 1,326,840 shares during the period. First Pacific Advisors LP raised its holdings in CarMax by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after purchasing an additional 47,184 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in CarMax by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after purchasing an additional 51,397 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of CarMax by 21.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock worth $121,479,000 after purchasing an additional 288,165 shares during the period.

Insider Transactions at CarMax

In related news, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO William D. Nash sold 120,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $965,567.88. 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 over the last three months. Corporate insiders own 1.66% of the company’s stock.

CarMax Price Performance

Shares of NYSE:KMX opened at $77.29 on Friday. CarMax, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22. The stock’s 50 day moving average is $79.71 and its 200-day moving average is $76.37. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.56 and a beta of 1.69.

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

Analyst Upgrades and Downgrades

KMX has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and set a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Truist Financial lifted their price objective on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Evercore ISI boosted their price objective on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research note on Friday. Royal Bank of Canada raised their target price on CarMax from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Oppenheimer reissued an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $78.92.

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.