Ruffer LLP Acquires Shares of 82,204 CarMax, Inc. $KMX

Key Points

• Ruffer LLP acquired a new stake of 82,204 shares in CarMax (NYSE:KMX) during Q4, valued at about $3.18 million and representing roughly 0.06% of the company.
• Several large investors materially increased positions in KMX, notably Arrowstreet (now 3.52M shares, +73.7%), Vulcan Value Partners (2.33M shares, +135.2%) and Dimensional Fund Advisors (3.69M shares, +33.2%), signaling significant institutional buying.
• CarMax shares were down ~3.9%; the company posted an EPS beat ($0.34 vs. $0.22) and $5.95B in revenue (down 1% YoY), while analysts maintain an average rating of "Reduce" with an average price target of $41.21.

Ruffer LLP acquired a new stake in CarMax, Inc. (NYSE:KMX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 82,204 shares of the company's stock, valued at approximately $3,181,000. Ruffer LLP owned 0.06% of CarMax at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in KMX. Arrowstreet Capital Limited Partnership raised its position in CarMax by 73.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company's stock valued at $158,074,000 after purchasing an additional 1,494,205 shares during the period. Vulcan Value Partners LLC raised its position in CarMax by 135.2% in the third quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company's stock valued at $104,569,000 after purchasing an additional 1,338,134 shares during the period. Hawk Ridge Capital Management LP purchased a new position in CarMax in the third quarter valued at about $43,702,000. Dimensional Fund Advisors LP raised its position in CarMax by 33.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company's stock valued at $165,358,000 after purchasing an additional 918,553 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its position in CarMax by 222.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 853,964 shares of the company's stock valued at $57,395,000 after purchasing an additional 588,901 shares during the period.

CarMax Stock Down 3.9%

Shares of NYSE KMX opened at $39.09 on Wednesday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 1.46 and a beta of 1.30. CarMax, Inc. has a 1 year low of $30.26 and a 1 year high of $71.99. The stock's 50-day simple moving average is $42.39 and its 200-day simple moving average is $41.79. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.49 and a current ratio of 2.20.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.12. The firm had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.65 billion. CarMax had a return on equity of 7.00% and a net margin of 0.96%.CarMax's quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. As a group, equities analysts anticipate that CarMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on KMX. Royal Bank Of Canada reissued a "sector perform" rating and issued a $41.00 price objective on shares of CarMax in a research report on Wednesday, April 15th. Bank of America initiated coverage on CarMax in a research report on Wednesday, April 15th. They set an "underperform" rating and a $40.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on CarMax from $28.00 to $35.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 15th. Argus raised CarMax to a "hold" rating in a research report on Thursday, April 16th. Finally, Wall Street Zen lowered CarMax from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $41.21.

About CarMax

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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