CarMax, Inc. $KMX Shares Sold by Makaira Partners LLC

Key Points

• Makaira Partners LLC reduced its stake in CarMax, Inc. by 51.3%, now owning 272,203 shares, valued at approximately $21.2 million.
• Multiple hedge funds, including Mirae Asset Global Investments and GAMMA Investing LLC, have recently adjusted their holdings in CarMax, indicating fluctuating interest among investors.
• CarMax reported $1.38 EPS for the recent quarter, exceeding estimates, highlighting a 6.1% revenue increase compared to the previous year.

Makaira Partners LLC reduced its position in CarMax, Inc. (NYSE:KMX - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 272,203 shares of the company's stock after selling 287,181 shares during the period. CarMax comprises approximately 7.1% of Makaira Partners LLC's holdings, making the stock its 7th largest position. Makaira Partners LLC owned approximately 0.18% of CarMax worth $21,210,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Gabelli Funds LLC increased its position in shares of CarMax by 14.1% in the first quarter. Gabelli Funds LLC now owns 73,000 shares of the company's stock worth $5,688,000 after acquiring an additional 9,000 shares in the last quarter. Comerica Bank increased its position in shares of CarMax by 62.9% in the first quarter. Comerica Bank now owns 37,953 shares of the company's stock worth $2,957,000 after acquiring an additional 14,659 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of CarMax by 77.4% in the first quarter. Smartleaf Asset Management LLC now owns 1,290 shares of the company's stock worth $98,000 after acquiring an additional 563 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of CarMax in the first quarter worth approximately $100,000. Finally, Allstate Corp increased its position in shares of CarMax by 58.6% in the first quarter. Allstate Corp now owns 7,355 shares of the company's stock worth $573,000 after acquiring an additional 2,717 shares in the last quarter.

CarMax Stock Down 1.3%

NYSE KMX traded down $0.84 during trading on Friday, reaching $61.33. The company's stock had a trading volume of 1,863,390 shares, compared to its average volume of 2,663,270. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $9.20 billion, a PE ratio of 16.94, a PEG ratio of 1.01 and a beta of 1.36. The business has a 50-day moving average price of $61.99 and a 200-day moving average price of $68.15. 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 posted its earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.20. The firm had revenue of $7.55 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. On average, research analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the business's stock in a transaction on 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 sale, the executive vice president directly owned 2,779 shares in the company, valued at approximately $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on KMX shares. Royal Bank Of Canada lifted their target price on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Truist Financial boosted their price objective on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. Wedbush reaffirmed an "outperform" rating and set a $84.00 price objective on shares of CarMax in a research report on Tuesday, August 19th. Finally, Mizuho lowered their price objective on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

CarMax 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.