Diamond Hill Capital Management Inc. Has $456.54 Million Stake in CarMax, Inc. (NYSE:KMX)

Diamond Hill Capital Management Inc. trimmed its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 5.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 5,859,118 shares of the company's stock after selling 362,570 shares during the period. CarMax makes up about 2.1% of Diamond Hill Capital Management Inc.'s investment portfolio, making the stock its 14th biggest position. Diamond Hill Capital Management Inc. owned 3.84% of CarMax worth $456,542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AE Wealth Management LLC increased its position in shares of CarMax by 7.9% during the 1st quarter. AE Wealth Management LLC now owns 5,132 shares of the company's stock worth $400,000 after purchasing an additional 376 shares in the last quarter. Allianz Asset Management GmbH increased its position in CarMax by 4.3% in the 1st quarter. Allianz Asset Management GmbH now owns 11,849 shares of the company's stock valued at $923,000 after acquiring an additional 491 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in CarMax by 4.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,962 shares of the company's stock valued at $932,000 after acquiring an additional 478 shares in the last quarter. Auxano Advisors LLC increased its position in CarMax by 4.1% in the 1st quarter. Auxano Advisors LLC now owns 10,767 shares of the company's stock valued at $839,000 after acquiring an additional 422 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in CarMax by 21.3% in the 1st quarter. Private Advisor Group LLC now owns 17,337 shares of the company's stock valued at $1,351,000 after acquiring an additional 3,049 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on KMX. Mizuho lowered their price target on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Needham & Company LLC restated a "buy" rating and set a $92.00 price objective on shares of CarMax in a report on Monday, June 23rd. Morgan Stanley initiated coverage on shares of CarMax in a report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price objective for the company. Royal Bank Of Canada boosted their price objective on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $83.67.

CarMax Stock Performance

Shares of NYSE:KMX traded up $0.51 on Friday, hitting $60.73. The company had a trading volume of 2,197,236 shares, compared to its average volume of 2,943,822. CarMax, Inc. has a 1-year low of $59.96 and a 1-year high of $91.25. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 0.97 and a beta of 1.38. The stock has a 50 day moving average price of $65.49 and a 200 day moving average price of $72.38. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating 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 business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the company posted $0.97 earnings per share. CarMax's revenue was up 6.1% compared to the same quarter last year. Analysts expect that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were 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 owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company's stock.

About CarMax

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.