CarMax, Inc. (NYSE:KMX) Shares Acquired by Eldred Rock Partners LLC

Eldred Rock Partners LLC grew its holdings in CarMax, Inc. (NYSE:KMX) by 4.3% during the 3rd quarter, Holdings Channel reports. The fund owned 140,090 shares of the company’s stock after purchasing an additional 5,742 shares during the period. CarMax makes up about 3.6% of Eldred Rock Partners LLC’s holdings, making the stock its 15th largest holding. Eldred Rock Partners LLC’s holdings in CarMax were worth $10,840,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KMX. Vanguard Group Inc. boosted its position in CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after purchasing an additional 222,132 shares in the last quarter. First Pacific Advisors LP boosted its holdings in CarMax by 2.0% during the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after buying an additional 47,184 shares in the last quarter. Dimensional Fund Advisors LP grew its position in CarMax by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after buying an additional 51,397 shares during the period. Vulcan Value Partners LLC increased its holdings in CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after buying an additional 1,369,986 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of CarMax by 21.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock worth $121,479,000 after acquiring an additional 288,165 shares during the period.

Insider Buying and Selling at CarMax

In other news, CEO William D. Nash sold 120,000 shares of the firm’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 transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO William D. Nash sold 120,000 shares of the stock in a transaction dated 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 owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 $965,567.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock valued at $14,803,843 over the last quarter. 1.66% of the stock is owned by company insiders.

CarMax Trading Down 1.5 %

NYSE KMX traded down $1.10 during trading hours on Friday, reaching $73.09. The company had a trading volume of 2,158,496 shares, compared to its average volume of 1,952,637. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $11.41 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 1.56 and a beta of 1.68. The stock has a 50-day moving average of $79.16 and a 200 day moving average of $76.17. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KMX. Needham & Company LLC raised their target price on CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Wedbush restated an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a research report on Tuesday, September 17th. Morgan Stanley reiterated an “overweight” rating and set a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Mizuho lowered their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Finally, Truist Financial upped their price objective on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.45.

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.