DAVENPORT & Co LLC Has $111.68 Million Holdings in CarMax, Inc. (NYSE:KMX)

DAVENPORT & Co LLC grew its stake in CarMax, Inc. (NYSE:KMX) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,215,133 shares of the company’s stock after acquiring an additional 14,302 shares during the period. CarMax accounts for about 1.2% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 21st biggest position. DAVENPORT & Co LLC owned approximately 0.74% of CarMax worth $111,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NuWave Investment Management LLC bought a new position in shares of CarMax in the second quarter worth about $27,000. Ellevest Inc. raised its stake in shares of CarMax by 3,300.0% in the second quarter. Ellevest Inc. now owns 306 shares of the company’s stock worth $27,000 after acquiring an additional 297 shares during the last quarter. Tarbox Family Office Inc. raised its stake in shares of CarMax by 1,173.1% in the second quarter. Tarbox Family Office Inc. now owns 331 shares of the company’s stock worth $30,000 after acquiring an additional 305 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of CarMax by 157.8% in the second quarter. Orion Portfolio Solutions LLC now owns 464 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of CarMax in the second quarter worth about $48,000.

CarMax stock traded up $0.62 during midday trading on Friday, reaching $93.74. The stock had a trading volume of 1,251,851 shares, compared to its average volume of 1,716,622. CarMax, Inc. has a 12 month low of $37.59 and a 12 month high of $109.31. The firm’s 50-day moving average price is $100.18 and its 200 day moving average price is $88.92. The firm has a market capitalization of $15.38 billion, a PE ratio of 22.53, a P/E/G ratio of 1.82 and a beta of 1.77. The company has a quick ratio of 0.94, a current ratio of 2.71 and a debt-to-equity ratio of 3.72.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 24th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.84. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.08 billion. CarMax had a return on equity of 19.23% and a net margin of 3.76%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. Equities research analysts expect that CarMax, Inc. will post 3.99 EPS for the current year.

KMX has been the subject of a number of recent research reports. Oppenheimer reissued a “buy” rating and set a $130.00 price target on shares of CarMax in a research note on Thursday, September 24th. Wedbush reissued an “outperform” rating on shares of CarMax in a research note on Friday. Argus boosted their price target on shares of CarMax from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Bank of America dropped their price target on shares of CarMax from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday. Finally, BNP Paribas initiated coverage on shares of CarMax in a research note on Monday, October 5th. They set an “underperform” rating and a $73.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CarMax has a consensus rating of “Buy” and an average price target of $102.88.

In related news, Director Thomas J. Folliard sold 254,731 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $97.61, for a total value of $24,864,292.91. Following the completion of the sale, the director now owns 466,687 shares of the company’s stock, valued at $45,553,318.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric M. Margolin sold 23,987 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $100.94, for a total value of $2,421,247.78. Following the completion of the sale, the executive vice president now directly owns 39,564 shares of the company’s stock, valued at approximately $3,993,590.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 308,292 shares of company stock valued at $30,201,133. Insiders own 2.09% of the company’s stock.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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