Giverny Capital Inc. Acquires 31,307 Shares of CarMax, Inc (NYSE:KMX)

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Giverny Capital Inc. lifted its position in CarMax, Inc (NYSE:KMX) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,220,105 shares of the company’s stock after acquiring an additional 31,307 shares during the period. CarMax accounts for 10.7% of Giverny Capital Inc.’s holdings, making the stock its 2nd largest position. Giverny Capital Inc. owned about 0.74% of CarMax worth $105,942,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in CarMax by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,504,891 shares of the company’s stock worth $94,404,000 after buying an additional 258,689 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CarMax by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,190,864 shares of the company’s stock valued at $137,181,000 after buying an additional 140,198 shares during the period. Janus Henderson Group PLC grew its stake in CarMax by 2.1% during the 1st quarter. Janus Henderson Group PLC now owns 53,119 shares of the company’s stock worth $3,706,000 after purchasing an additional 1,078 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in CarMax by 84.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 6,252 shares of the company’s stock worth $437,000 after purchasing an additional 2,856 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in CarMax by 3.3% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 13,205 shares of the company’s stock worth $922,000 after purchasing an additional 423 shares in the last quarter.

In related news, CEO William D. Nash sold 86,762 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $83.53, for a total value of $7,247,229.86. Following the completion of the transaction, the chief executive officer now directly owns 173,546 shares of the company’s stock, valued at approximately $14,496,297.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mohammad Shamim sold 15,782 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $83.88, for a total value of $1,323,794.16. Following the completion of the transaction, the senior vice president now directly owns 18,606 shares of the company’s stock, valued at $1,560,671.28. The disclosure for this sale can be found here. Insiders sold a total of 377,047 shares of company stock valued at $31,898,938 over the last ninety days. 2.09% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on KMX. Credit Suisse Group set a $90.00 price objective on CarMax and gave the stock an “outperform” rating in a research report on Monday, June 17th. ValuEngine cut CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Guggenheim upped their price objective on CarMax from $87.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. They noted that the move was a valuation call. Oppenheimer upped their price objective on CarMax from $88.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Finally, Royal Bank of Canada upped their price objective on CarMax from $86.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 19th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $94.12.

KMX traded up $0.21 on Friday, hitting $86.74. 6,575 shares of the company traded hands, compared to its average volume of 1,171,228. The company has a 50 day moving average of $85.09 and a 200-day moving average of $77.99. The company has a quick ratio of 0.49, a current ratio of 2.21 and a debt-to-equity ratio of 4.20. The stock has a market capitalization of $14.33 billion, a PE ratio of 18.11, a PEG ratio of 1.32 and a beta of 1.20. CarMax, Inc has a 12-month low of $55.24 and a 12-month high of $92.01.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.10. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.17 billion. CarMax had a return on equity of 25.37% and a net margin of 4.64%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 EPS. On average, research analysts anticipate that CarMax, Inc will post 5.26 EPS for the current year.

About CarMax

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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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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