Davis Selected Advisers Has $308.25 Million Holdings in CarMax, Inc (KMX)
Davis Selected Advisers reduced its holdings in CarMax, Inc (NYSE:KMX) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,065,627 shares of the company’s stock after selling 324,996 shares during the quarter. CarMax comprises 1.3% of Davis Selected Advisers’ investment portfolio, making the stock its 24th largest position. Davis Selected Advisers owned approximately 2.23% of CarMax worth $308,245,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Strs Ohio raised its stake in CarMax by 129.6% during the second quarter. Strs Ohio now owns 6,306 shares of the company’s stock valued at $397,000 after buying an additional 3,560 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in CarMax by 74.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,710 shares of the company’s stock valued at $676,000 after purchasing an additional 4,580 shares during the period. Korea Investment CORP grew its holdings in CarMax by 140.5% during the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock valued at $111,000 after purchasing an additional 1,033 shares during the period. Global X Management Co. LLC grew its holdings in CarMax by 43.7% during the second quarter. Global X Management Co. LLC now owns 3,589 shares of the company’s stock valued at $226,000 after purchasing an additional 1,092 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in CarMax by 21.4% during the second quarter. Canada Pension Plan Investment Board now owns 18,794 shares of the company’s stock valued at $1,185,000 after purchasing an additional 3,308 shares during the period.
CarMax, Inc (KMX) traded up $0.61 during trading on Thursday, hitting $67.47. The stock had a trading volume of 1,614,600 shares, compared to its average volume of 2,211,506. CarMax, Inc has a 1-year low of $54.29 and a 1-year high of $77.64. The company has a quick ratio of 0.48, a current ratio of 2.33 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $12,190.58, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.13 and a beta of 1.48.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. equities research analysts expect that CarMax, Inc will post 3.84 EPS for the current year.
KMX has been the subject of a number of recent analyst reports. Oppenheimer lowered CarMax from an “outperform” rating to a “market perform” rating and set a $80.00 price objective for the company. in a research note on Thursday, October 5th. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Friday, September 8th. CIBC increased their price target on CarMax from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, September 19th. Royal Bank of Canada increased their price target on CarMax from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. Finally, Deutsche Bank reissued a “buy” rating and issued a $84.00 price objective on shares of CarMax in a research note on Monday, September 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $77.00.
In related news, Director Thomas J. Folliard sold 8,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $68.72, for a total transaction of $549,760.00. Following the completion of the transaction, the director now owns 447,572 shares in the company, valued at $30,757,147.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 16,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $68.39, for a total transaction of $1,094,240.00. Following the transaction, the director now owns 495,572 shares of the company’s stock, valued at approximately $33,892,169.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 625,955 shares of company stock valued at $46,214,378. Insiders own 1.70% of the company’s stock.
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CarMax Company Profile
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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