Kiltearn Partners LLP Takes $21.50 Million Position in CarMax, Inc. $KMX

Kiltearn Partners LLP purchased a new stake in CarMax, Inc. (NYSE:KMX) in the second quarter, HoldingsChannel reports. The firm purchased 406,479 shares of the company’s stock, valued at approximately $21,499,000. CarMax accounts for approximately 5.2% of Kiltearn Partners LLP’s investment portfolio, making the stock its 6th biggest position.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in CarMax by 151.8% during the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after buying an additional 4,780,903 shares in the last quarter. SRS Investment Management LLC increased its stake in shares of CarMax by 1,717.5% in the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock valued at $217,845,000 after buying an additional 5,327,603 shares during the period. Janus Henderson Group PLC increased its stake in shares of CarMax by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock valued at $190,471,000 after buying an additional 49,987 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CarMax by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company’s stock worth $177,767,000 after acquiring an additional 289,768 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of CarMax during the fourth quarter worth $159,232,000.

CarMax Stock Performance

Shares of CarMax stock opened at $62.14 on Friday. The firm has a fifty day moving average of $55.65 and a two-hundred day moving average of $46.98. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 2.84 and a beta of 1.15. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $63.00.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period last year, the company earned $1.38 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that CarMax, Inc. will post 2.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised CarMax from an “underweight” rating to a “neutral” rating and upped their price target for the company from $38.00 to $60.00 in a research note on Wednesday, July 29th. Robert W. Baird boosted their price objective on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Weiss Ratings raised CarMax from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th. Bank of America upped their target price on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research report on Wednesday, June 17th. Finally, Morgan Stanley raised their target price on shares of CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.00.

Insider Transactions at CarMax

In other news, Director Sona Chawla purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the transaction, the director directly owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. The trade was a 10.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the purchase, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 13,900 shares of company stock worth $735,574. 1.01% of the stock is currently owned by company insiders.

CarMax Company 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.