Sterling Capital Management LLC cut its holdings in shares of CarMax, Inc (NYSE:KMX) by 4.5% during the third quarter, HoldingsChannel reports. The firm owned 1,149,153 shares of the company’s stock after selling 54,681 shares during the period. Sterling Capital Management LLC’s holdings in CarMax were worth $85,807,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in KMX. Principal Financial Group Inc. boosted its stake in CarMax by 4.3% in the first quarter. Principal Financial Group Inc. now owns 9,658,783 shares of the company’s stock valued at $598,264,000 after acquiring an additional 402,543 shares in the last quarter. Akre Capital Management LLC boosted its stake in CarMax by 1.8% in the second quarter. Akre Capital Management LLC now owns 5,254,491 shares of the company’s stock valued at $382,895,000 after acquiring an additional 92,325 shares in the last quarter. Madison Investment Holdings Inc. boosted its stake in CarMax by 10.3% in the second quarter. Madison Investment Holdings Inc. now owns 1,324,413 shares of the company’s stock valued at $96,510,000 after acquiring an additional 123,536 shares in the last quarter. Giverny Capital Inc. boosted its stake in CarMax by 16.3% in the second quarter. Giverny Capital Inc. now owns 1,269,874 shares of the company’s stock valued at $92,536,000 after acquiring an additional 178,286 shares in the last quarter. Finally, Marathon Asset Management LLP boosted its stake in CarMax by 0.3% in the second quarter. Marathon Asset Management LLP now owns 977,525 shares of the company’s stock valued at $71,232,000 after acquiring an additional 2,667 shares in the last quarter.
Shares of CarMax stock traded up $0.41 during trading on Friday, hitting $70.14. 6,569 shares of the company’s stock were exchanged, compared to its average volume of 1,664,115. The company has a debt-to-equity ratio of 3.78, a current ratio of 2.35 and a quick ratio of 0.52. CarMax, Inc has a 52-week low of $57.05 and a 52-week high of $81.67. The stock has a market cap of $11.90 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.59.
CarMax (NYSE:KMX) last issued its earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.02. CarMax had a net margin of 4.12% and a return on equity of 22.26%. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that CarMax, Inc will post 4.65 EPS for the current year.
In related news, SVP Jon G. Daniels sold 16,325 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $70.88, for a total transaction of $1,157,116.00. Following the completion of the transaction, the senior vice president now owns 16,325 shares of the company’s stock, valued at $1,157,116. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Darren C. Newberry sold 1,831 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $73.80, for a total transaction of $135,127.80. Following the transaction, the senior vice president now directly owns 2,481 shares of the company’s stock, valued at approximately $183,097.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,298 shares of company stock valued at $3,824,215. 1.97% of the stock is currently owned by corporate insiders.
KMX has been the subject of several recent analyst reports. Morgan Stanley set a $89.00 target price on shares of CarMax and gave the company a “buy” rating in a research note on Wednesday, August 29th. Robert W. Baird raised shares of CarMax from a “neutral” rating to an “outperform” rating in a report on Thursday, September 27th. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price target on shares of CarMax in a report on Thursday, August 16th. Finally, ValuEngine cut shares of CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $83.93.
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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