Sivia Capital Partners LLC Has $627,000 Holdings in CarMax, Inc. $KMX

Key Points

• Sivia Capital Partners LLC significantly increased its stake in CarMax, Inc. by 256.7% during the second quarter, resulting in ownership of 9,324 shares worth approximately $627,000.
• CarMax's stock currently has a market capitalization of $9.05 billion, with a PE ratio of 16.66 and a price-to-earnings-growth ratio of 0.98.
• The company reported a quarterly earnings per share (EPS) of $1.38, outperforming consensus estimates by $0.20, although revenue was slightly below expectations at $7.55 billion.

Sivia Capital Partners LLC grew its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 256.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,324 shares of the company's stock after purchasing an additional 6,710 shares during the period. Sivia Capital Partners LLC's holdings in CarMax were worth $627,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Redmond Asset Management LLC lifted its holdings in shares of CarMax by 0.3% in the first quarter. Redmond Asset Management LLC now owns 50,803 shares of the company's stock valued at $3,959,000 after purchasing an additional 152 shares in the last quarter. Maia Wealth LLC lifted its holdings in shares of CarMax by 0.6% in the first quarter. Maia Wealth LLC now owns 26,099 shares of the company's stock valued at $2,034,000 after purchasing an additional 157 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock valued at $419,000 after purchasing an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock valued at $2,446,000 after purchasing an additional 173 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in CarMax by 5.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock valued at $262,000 after buying an additional 176 shares during the period.

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 shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the transaction, the executive vice president owned 2,779 shares in the company, valued at $196,308.56. This represents a 35.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

CarMax Stock Down 2.6%

Shares of KMX traded down $1.58 during mid-day trading on Friday, hitting $58.42. 5,808,787 shares of the company's stock were exchanged, compared to its average volume of 2,424,319. The firm has a fifty day moving average of $59.75 and a two-hundred day moving average of $65.77. CarMax, Inc. has a twelve month low of $54.53 and a twelve month high of $91.25. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 0.98 and a beta of 1.35. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Evercore ISI dropped their price objective on shares of CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Benchmark initiated coverage on shares of CarMax in a research note on Thursday, July 17th. They issued a "buy" rating and a $75.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on CarMax from $58.00 to $65.00 and gave the company a "neutral" rating in a research report on Thursday. Mizuho dropped their target price on CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Finally, Morgan Stanley initiated coverage on CarMax in a research note on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

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.