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

Key Points

• Kiltearn Partners LLP acquired 406,479 CarMax shares worth approximately $21.5 million, making CarMax 5.2% of its portfolio and its sixth-largest holding.
• CarMax exceeded quarterly expectations with $1.31 in EPS versus the $0.96 consensus estimate and $8.01 billion in revenue, up 6.2% year over year.
• Insiders purchased 13,900 shares worth $735,574 during the latest quarter, while analysts maintain a consensus “Hold” rating with an average price target of $51.00.

Kiltearn Partners LLP bought a new stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 406,479 shares of the company's stock, valued at approximately $21,499,000. CarMax makes up 5.2% of Kiltearn Partners LLP's portfolio, making the stock its 6th largest position. Kiltearn Partners LLP owned about 0.29% of CarMax at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CarMax by 0.6% during 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. Jones Financial Companies Lllp raised its holdings in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock worth $419,000 after buying an additional 161 shares in the last quarter. Empowered Funds LLC lifted its position in shares of CarMax by 12.5% during the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company's stock worth $411,000 after buying an additional 585 shares during the period. Intech Investment Management LLC lifted its position in shares of CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company's stock worth $1,492,000 after buying an additional 7,307 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of CarMax during the 1st quarter worth approximately $727,000.

Insider Buying and Selling at CarMax

In other CarMax news, Director Peter J. Bensen bought 2,500 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director owned 24,796 shares of the company's stock, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sona Chawla bought 2,000 shares of the stock in a transaction dated Thursday, June 25th. The stock was acquired at an average price of $53.39 per share, with a total value of $106,780.00. Following the completion of the purchase, the director owned 21,702 shares of the company's stock, valued at $1,158,669.78. This represents a 10.15% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 13,900 shares of company stock worth $735,574. 1.01% of the stock is currently owned by insiders.

CarMax Stock Performance

NYSE:KMX opened at $62.14 on Friday. The stock has a market capitalization of $8.82 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 2.84 and a beta of 1.15. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $63.00. The firm has a 50 day moving average of $55.65 and a 200-day moving average of $46.98.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results 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 business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the prior year, the company earned $1.38 EPS. CarMax's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KMX shares. JPMorgan Chase & Co. upgraded 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 report on Wednesday, July 29th. Mizuho lifted their price objective on CarMax from $38.00 to $43.00 and gave the company a "neutral" rating in a report on Thursday, June 18th. Weiss Ratings upgraded shares of CarMax from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, July 20th. Zacks Research upgraded shares of CarMax from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Finally, Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and set a $66.00 target price on the stock in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $51.00.

CarMax 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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