Riverpark Capital Management LLC Has $28.49 Million Position in CarMax Inc (KMX)
Riverpark Capital Management LLC boosted its stake in shares of CarMax Inc (NYSE:KMX) by 38.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 451,803 shares of the company’s stock after buying an additional 124,893 shares during the period. CarMax makes up approximately 3.3% of Riverpark Capital Management LLC’s holdings, making the stock its 14th largest position. Riverpark Capital Management LLC’s holdings in CarMax were worth $28,490,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. First Bank & Trust increased its stake in shares of CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock valued at $123,000 after buying an additional 138 shares in the last quarter. Quantitative Systematic Strategies LLC increased its stake in shares of CarMax by 35.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 35,213 shares of the company’s stock valued at $2,085,000 after buying an additional 9,221 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of CarMax by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 193,635 shares of the company’s stock valued at $11,467,000 after buying an additional 11,352 shares in the last quarter. Legal & General Group Plc increased its stake in shares of CarMax by 2.6% in the first quarter. Legal & General Group Plc now owns 907,143 shares of the company’s stock valued at $53,722,000 after buying an additional 23,085 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of CarMax by 2.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,076 shares of the company’s stock valued at $281,000 after buying an additional 131 shares in the last quarter.
Shares of CarMax Inc (KMX) opened at 64.92 on Tuesday. The stock has a market cap of $11.90 billion, a P/E ratio of 18.64 and a beta of 1.34. The company’s 50-day moving average is $64.74 and its 200-day moving average is $62.71. CarMax Inc has a 12-month low of $47.50 and a 12-month high of $69.11.
CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.15. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. On average, equities research analysts anticipate that CarMax Inc will post $3.70 earnings per share for the current year.
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KMX has been the subject of several analyst reports. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Deutsche Bank AG reiterated a “buy” rating and issued a $73.00 target price (up previously from $71.00) on shares of CarMax in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. set a $72.00 target price on shares of CarMax and gave the company a “buy” rating in a report on Monday, June 19th. Wedbush upgraded shares of CarMax from a “neutral” rating to an “outperform” rating and increased their target price for the company from $60.00 to $70.00 in a report on Thursday, May 18th. Finally, Zacks Investment Research upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $69.00.
In related news, Director Thomas J. Folliard sold 50,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $61.41, for a total value of $3,070,500.00. Following the completion of the sale, the director now directly owns 509,166 shares of the company’s stock, valued at approximately $31,267,884.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mohammad Shamim sold 13,938 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $66.08, for a total transaction of $921,023.04. Following the completion of the sale, the senior vice president now directly owns 9,218 shares of the company’s stock, valued at $609,125.44. The disclosure for this sale can be found here. Insiders sold a total of 188,515 shares of company stock valued at $12,085,019 over the last three months. 1.90% of the stock is currently owned by insiders.
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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