Vulcan Value Partners LLC Buys 1,338,134 Shares of CarMax, Inc. $KMX

Vulcan Value Partners LLC grew its stake in shares of CarMax, Inc. (NYSE:KMX) by 135.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,328,120 shares of the company’s stock after buying an additional 1,338,134 shares during the quarter. CarMax accounts for 1.9% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 17th biggest position. Vulcan Value Partners LLC owned 1.59% of CarMax worth $104,569,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC purchased a new stake in CarMax during the second quarter valued at about $28,000. MUFG Securities EMEA plc purchased a new position in shares of CarMax in the 2nd quarter worth about $30,000. Center for Financial Planning Inc. bought a new position in shares of CarMax during the 3rd quarter valued at about $31,000. Strengthening Families & Communities LLC raised its holdings in shares of CarMax by 220.0% during the 3rd quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock valued at $39,000 after buying an additional 605 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of CarMax by 121.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 984 shares of the company’s stock valued at $45,000 after buying an additional 539 shares in the last quarter.

CarMax Trading Down 0.2%

KMX opened at $44.49 on Monday. CarMax, Inc. has a one year low of $30.26 and a one year high of $86.38. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 0.51. The business has a 50 day simple moving average of $43.51 and a two-hundred day simple moving average of $46.15. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.06 and a beta of 1.35.

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

Analyst Upgrades and Downgrades

Several research firms have commented on KMX. Barclays lifted their price target on shares of CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 21st. Stephens reduced their target price on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, December 19th. Truist Financial boosted their price target on shares of CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. William Blair cut CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. Finally, Evercore set a $42.00 price objective on CarMax in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $39.21.

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.