Biglari Capital CORP. Makes New Investment in CarMax, Inc. $KMX

Biglari Capital CORP. purchased a new stake in CarMax, Inc. (NYSE:KMX - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 125,420 shares of the company's stock, valued at approximately $6,633,464,000. CarMax comprises about 0.6% of Biglari Capital CORP.'s portfolio, making the stock its 6th largest position. Biglari Capital CORP. owned 0.09% of CarMax at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of 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 purchasing an additional 4,780,903 shares during the period. SRS Investment Management LLC increased its position in shares of CarMax by 1,717.5% during the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company's stock worth $217,845,000 after acquiring an additional 5,327,603 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of CarMax in the 2nd quarter valued at approximately $245,676,000. Janus Henderson Group PLC raised its holdings in CarMax by 1.1% in the first quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company's stock valued at $190,471,000 after acquiring an additional 49,987 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new position in CarMax in the second quarter worth about $230,548,000.

Insider Buying and Selling at CarMax

In other CarMax news, Director Sona Chawla acquired 2,000 shares of CarMax stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the transaction, the director owned 21,702 shares in the company, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Keith Barr bought 9,400 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the acquisition, the chief executive officer directly owned 33,375 shares in the company, valued at approximately $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 13,900 shares of company stock valued at $735,574. 1.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KMX shares. UBS Group set a $60.00 target price on shares of CarMax in a report on Wednesday, July 29th. Bank of America boosted their price target on shares of CarMax from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Wednesday, June 17th. Weiss Ratings raised shares of CarMax from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 20th. Barclays raised shares of CarMax from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $37.00 to $61.00 in a research note on Tuesday, July 21st. Finally, Mizuho boosted their price objective on CarMax from $38.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $51.00.

CarMax Price Performance

NYSE KMX opened at $64.17 on Wednesday. The firm has a market capitalization of $9.11 billion, a PE ratio of 41.94, a P/E/G ratio of 2.87 and a beta of 1.15. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $64.59. The company's 50 day simple moving average is $56.11 and its 200 day simple moving average is $47.24.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

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.

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