Vulcan Value Partners LLC Raises Position in CarMax, Inc. $KMX

Vulcan Value Partners LLC grew its position in shares of CarMax, Inc. (NYSE:KMX) by 135.2% during the third quarter, Holdings Channel reports. The fund owned 2,328,120 shares of the company’s stock after purchasing an additional 1,338,134 shares during the period. CarMax makes up about 1.9% of Vulcan Value Partners LLC’s holdings, making the stock its 17th biggest holding. Vulcan Value Partners LLC’s holdings in CarMax were worth $104,569,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of CarMax during the 2nd quarter valued at $5,758,000. Hantz Financial Services Inc. lifted its position in CarMax by 45.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock valued at $12,893,000 after acquiring an additional 59,840 shares during the period. Fox Run Management L.L.C. bought a new stake in CarMax during the second quarter worth about $1,887,000. True North Advisors LLC grew its holdings in CarMax by 66.6% in the third quarter. True North Advisors LLC now owns 123,742 shares of the company’s stock worth $5,552,000 after purchasing an additional 49,450 shares during the period. Finally, AlphaQuest LLC grew its holdings in CarMax by 461.3% in the second quarter. AlphaQuest LLC now owns 7,174 shares of the company’s stock worth $482,000 after purchasing an additional 5,896 shares during the period.

Wall Street Analysts Forecast Growth

KMX has been the subject of several recent research reports. Bank of America lifted their target price on shares of CarMax from $27.00 to $31.00 and gave the company an “underperform” rating in a report on Friday, December 19th. William Blair cut CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. Morgan Stanley set a $35.00 price target on CarMax in a research report on Monday, December 8th. Truist Financial raised their price objective on shares of CarMax from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Finally, Stephens decreased their target price on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $39.21.

CarMax Trading Down 0.2%

Shares of KMX stock opened at $44.49 on Monday. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $86.38. The stock has a market capitalization of $6.31 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.06 and a beta of 1.35. The firm’s 50 day moving average is $43.51 and its 200 day moving average is $46.15.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.12. The firm had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The company’s revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. Research analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current year.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.