Kovitz Investment Group Partners LLC raised its stake in CarMax Inc (NYSE:KMX) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 805,649 shares of the company’s stock after buying an additional 18,490 shares during the period. CarMax makes up 2.7% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 16th largest position. Kovitz Investment Group Partners LLC owned approximately 0.44% of CarMax worth $50,804,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock valued at $656,668,000 after buying an additional 10,752,554 shares during the period. William Blair Investment Management LLC acquired a new position in shares of CarMax during the first quarter valued at $47,370,000. Marathon Asset Management LLP increased its position in shares of CarMax by 68.5% in the second quarter. Marathon Asset Management LLP now owns 754,913 shares of the company’s stock valued at $47,605,000 after buying an additional 306,901 shares during the period. Morgan Stanley increased its position in shares of CarMax by 156.4% in the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock valued at $27,019,000 after buying an additional 278,328 shares during the period. Finally, SG Capital Management LLC acquired a new position in shares of CarMax during the second quarter valued at $16,752,000.
Shares of CarMax Inc (NYSE:KMX) remained flat at $63.97 during mid-day trading on Friday. The stock had a trading volume of 1,230,378 shares. The company’s 50 day moving average price is $64.93 and its 200-day moving average price is $62.69. The firm has a market capitalization of $11.72 billion, a P/E ratio of 18.37 and a beta of 1.34. CarMax Inc has a 12-month low of $47.50 and a 12-month high of $69.11.
CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.15. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the business earned $0.90 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that CarMax Inc will post $3.71 earnings per share for the current fiscal year.
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A number of equities research analysts have recently commented on the stock. UBS AG cut shares of CarMax from a “positive” rating to a “neutral” rating in a research note on Thursday, June 22nd. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. ValuEngine cut shares of CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Royal Bank Of Canada upgraded CarMax from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $63.00 to $69.00 in a research report on Thursday, June 22nd. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $70.00 target price (up previously from $66.00) on shares of CarMax in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. CarMax has an average rating of “Buy” and an average price target of $69.15.
In related news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $66.87, for a total transaction of $573,945.21. Following the transaction, the chief financial officer now directly owns 70,522 shares in the company, valued at $4,715,806.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edwin J. Hill sold 35,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total value of $2,270,800.00. Following the transaction, the executive vice president now owns 39,792 shares in the company, valued at $2,581,704.96. The disclosure for this sale can be found here. Insiders sold 188,515 shares of company stock worth $12,085,019 over the last 90 days. Company insiders own 1.70% of the company’s stock.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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