Diamond Hill Capital Management Inc. Sells 2,128,619 Shares of CarMax, Inc. $KMX

Diamond Hill Capital Management Inc. trimmed its position in shares of CarMax, Inc. (NYSE:KMX) by 30.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,833,319 shares of the company’s stock after selling 2,128,619 shares during the period. Diamond Hill Capital Management Inc. owned approximately 3.29% of CarMax worth $216,871,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of CarMax in the 2nd quarter worth about $5,758,000. Hantz Financial Services Inc. boosted its position in CarMax by 45.3% in the second quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock valued at $12,893,000 after buying an additional 59,840 shares in the last quarter. 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 increased its holdings in shares of CarMax by 66.6% during the third quarter. True North Advisors LLC now owns 123,742 shares of the company’s stock worth $5,552,000 after buying an additional 49,450 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in shares of CarMax by 461.3% in the second quarter. AlphaQuest LLC now owns 7,174 shares of the company’s stock valued at $482,000 after acquiring an additional 5,896 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research report on Friday, January 9th. Morgan Stanley set a $35.00 target price on CarMax in a research note on Monday, December 8th. William Blair cut CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Needham & Company LLC reissued a “hold” rating on shares of CarMax in a report on Friday, November 7th. Finally, Evercore boosted their target price on shares of CarMax from $38.00 to $40.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $39.93.

CarMax Stock Up 3.8%

Shares of NYSE KMX opened at $47.20 on Friday. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $89.47. The firm’s 50-day moving average is $42.65 and its 200-day moving average is $47.24. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $6.69 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. Equities analysts expect that CarMax, Inc. will post 3.23 EPS for the current year.

CarMax Profile

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.