Dodge & Cox Sells 3,400 Shares of CarMax Inc (KMX)
Dodge & Cox cut its holdings in CarMax Inc (NYSE:KMX) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,440 shares of the company’s stock after selling 3,400 shares during the period. Dodge & Cox’s holdings in CarMax were worth $2,424,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Calamos Advisors LLC raised its position in CarMax by 20.3% in the second quarter. Calamos Advisors LLC now owns 341,647 shares of the company’s stock worth $21,544,000 after acquiring an additional 57,657 shares during the period. Principal Financial Group Inc. raised its position in CarMax by 8.3% in the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock worth $578,702,000 after acquiring an additional 706,369 shares during the period. Schwab Charles Investment Management Inc. raised its position in CarMax by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock worth $40,552,000 after acquiring an additional 24,390 shares during the period. PNC Financial Services Group Inc. raised its position in CarMax by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 193,635 shares of the company’s stock worth $11,467,000 after acquiring an additional 11,352 shares during the period. Finally, Victory Capital Management Inc. raised its position in CarMax by 16.1% in the second quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock worth $1,364,000 after acquiring an additional 3,002 shares during the period.
In other CarMax news, EVP Eric M. Margolin sold 26,838 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $64.15, for a total transaction of $1,721,657.70. Following the completion of the transaction, the executive vice president now directly owns 55,342 shares in the company, valued at $3,550,189.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mohammad Shamim sold 13,938 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $66.08, for a total transaction of $921,023.04. Following the transaction, the senior vice president now owns 9,218 shares of the company’s stock, valued at $609,125.44. The disclosure for this sale can be found here. Insiders have sold 154,515 shares of company stock valued at $10,108,759 over the last 90 days. 1.70% of the stock is currently owned by company insiders.
Shares of CarMax Inc (NYSE:KMX) opened at 74.19 on Friday. CarMax Inc has a 52 week low of $47.50 and a 52 week high of $74.60. The stock has a market capitalization of $13.60 billion, a PE ratio of 21.31 and a beta of 1.32. The stock has a 50 day moving average of $66.11 and a 200-day moving average of $62.70. CarMax also saw unusually large options trading activity on Wednesday. Traders acquired 12,002 put options on the company. This represents an increase of 820% compared to the average daily volume of 1,305 put options.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.03. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.26 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. On average, equities research analysts expect that CarMax Inc will post $3.72 EPS for the current year.
KMX has been the topic of several recent research reports. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of CarMax in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a research report on Wednesday, August 16th. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Deutsche Bank AG reiterated a “buy” rating and issued a $73.00 price target (up from $71.00) on shares of CarMax in a research report on Thursday, June 22nd. Finally, CIBC increased their price target on shares of CarMax from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $72.25.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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