Giverny Capital Inc. raised its stake in shares of CarMax, Inc (NYSE:KMX) by 2.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,220,105 shares of the company’s stock after buying an additional 31,307 shares during the period. CarMax accounts for about 10.7% of Giverny Capital Inc.’s portfolio, making the stock its 2nd largest position. Giverny Capital Inc.’s holdings in CarMax were worth $105,942,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wetherby Asset Management Inc. raised its position in shares of CarMax by 3.6% during the second quarter. Wetherby Asset Management Inc. now owns 3,366 shares of the company’s stock valued at $292,000 after buying an additional 118 shares during the last quarter. Beacon Financial Group grew its position in shares of CarMax by 2.3% in the 2nd quarter. Beacon Financial Group now owns 5,386 shares of the company’s stock valued at $468,000 after acquiring an additional 119 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. grew its position in shares of CarMax by 1.4% in the 2nd quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 9,700 shares of the company’s stock valued at $842,000 after acquiring an additional 130 shares during the period. First Trust Advisors LP grew its position in shares of CarMax by 0.3% in the 1st quarter. First Trust Advisors LP now owns 65,476 shares of the company’s stock valued at $4,570,000 after acquiring an additional 167 shares during the period. Finally, Ballentine Partners LLC grew its position in shares of CarMax by 4.8% in the 2nd quarter. Ballentine Partners LLC now owns 3,818 shares of the company’s stock valued at $332,000 after acquiring an additional 175 shares during the period.

KMX traded up $0.21 during trading on Friday, hitting $86.74. 6,575 shares of the company’s stock were exchanged, compared to its average volume of 1,171,228. 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 business’s 50 day moving average is $85.09 and its two-hundred day moving average is $77.99. CarMax, Inc has a fifty-two week low of $55.24 and a fifty-two week high of $92.01. The stock has a market cap of $14.33 billion, a P/E ratio of 18.11, a PEG ratio of 1.32 and a beta of 1.20.

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

In other news, EVP Eric M. Margolin sold 37,264 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $84.39, for a total value of $3,144,708.96. Following the completion of the transaction, the executive vice president now directly owns 21,767 shares in the company, valued at $1,836,917.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Edwin J. Hill sold 81,959 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $84.19, for a total transaction of $6,900,128.21. Following the completion of the transaction, the chief operating officer now owns 90,529 shares of the company’s stock, valued at $7,621,636.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 377,047 shares of company stock valued at $31,898,938. 2.09% of the stock is currently owned by corporate insiders.

Several brokerages have recently commented on KMX. Bank of America boosted their target price on shares of CarMax from $95.00 to $112.00 in a research report on Monday, June 24th. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Monday, June 10th. ValuEngine lowered shares of CarMax from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Argus assumed coverage on shares of CarMax in a research note on Friday, June 28th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Buckingham Research lowered shares of CarMax from a “buy” rating to a “neutral” rating and upped their price objective for the company from $81.00 to $94.00 in a research note on Monday, June 24th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. CarMax currently has an average rating of “Buy” and a consensus target price of $94.12.

CarMax Company Profile

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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