Biglari Sardar Has $2.87 Million Stock Holdings in CarMax, Inc. $KMX

Key Points

• Biglari Sardar increased its stake in CarMax, Inc. by 20.3%, now holding 36,800 shares valued at approximately $2.87 million.
• CarMax received various analyst ratings, with price targets ranging from $58.00 to $92.00 and an average target of $81.50, reflecting a consensus of a "Moderate Buy".
• The company's latest earnings results showed a net margin of 2.09% and a quarterly revenue increase of 6.1% year-over-year, despite slightly falling short of revenue estimates.

Biglari Sardar lifted its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 20.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,800 shares of the company's stock after buying an additional 6,200 shares during the quarter. CarMax makes up 6.5% of Biglari Sardar's holdings, making the stock its 7th largest position. Biglari Sardar's holdings in CarMax were worth $2,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Armistice Capital LLC acquired a new stake in CarMax during the first quarter worth $1,167,000. Quarry LP grew its holdings in CarMax by 50.5% during the 1st quarter. Quarry LP now owns 694 shares of the company's stock valued at $54,000 after buying an additional 233 shares during the last quarter. Baird Financial Group Inc. grew its holdings in CarMax by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 3,093,632 shares of the company's stock valued at $241,056,000 after buying an additional 206,106 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in CarMax by 93.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 121,800 shares of the company's stock valued at $9,491,000 after buying an additional 59,000 shares during the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of CarMax by 93.5% during the first quarter. Trexquant Investment LP now owns 141,960 shares of the company's stock worth $11,062,000 after purchasing an additional 68,586 shares during the last quarter.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the transaction, the executive vice president directly owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on KMX shares. Stephens reiterated an "overweight" rating and issued a $81.00 price target on shares of CarMax in a research note on Tuesday, August 19th. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and cut their target price for the company from $65.00 to $58.00 in a report on Wednesday, August 6th. Morgan Stanley started coverage on CarMax in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 price objective on the stock. Wedbush reiterated an "outperform" rating and issued a $84.00 price objective on shares of CarMax in a research note on Tuesday, August 19th. Finally, Evercore ISI lowered their price target on CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

CarMax Stock Down 0.3%

KMX traded down $0.20 during trading hours on Friday, hitting $60.75. 2,367,239 shares of the company's stock were exchanged, compared to its average volume of 2,921,864. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The stock's 50-day moving average is $61.42 and its two-hundred day moving average is $67.40. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.98 and a beta of 1.35. CarMax, Inc. has a 1-year low of $54.53 and a 1-year high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.20. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The company's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share. Sell-side analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.