Eldred Rock Partners LLC Buys 5,742 Shares of CarMax, Inc. (NYSE:KMX)

Eldred Rock Partners LLC boosted its stake in CarMax, Inc. (NYSE:KMX) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,090 shares of the company’s stock after purchasing an additional 5,742 shares during the period. CarMax makes up approximately 3.6% of Eldred Rock Partners LLC’s holdings, making the stock its 15th largest position. Eldred Rock Partners LLC owned about 0.09% of CarMax worth $10,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. First Community Trust NA purchased a new stake in CarMax during the second quarter valued at $29,000. Quarry LP boosted its holdings in shares of CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Blue Trust Inc. increased its holdings in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the last quarter. Studio Investment Management LLC raised its position in CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of CarMax during the 1st quarter valued at $55,000.

CarMax Trading Down 1.5 %

KMX stock traded down $1.10 during midday trading on Friday, reaching $73.09. The company’s stock had a trading volume of 2,158,496 shares, compared to its average volume of 1,952,637. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.56 and a beta of 1.68. The stock has a fifty day simple moving average of $79.16 and a two-hundred day simple moving average of $76.17. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts predict that CarMax, Inc. will post 2.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the sale, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at $1,690,899.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,012 shares of company stock worth $14,803,843 in the last three months. Corporate insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KMX shares. JPMorgan Chase & Co. boosted their price target on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Argus upgraded shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research report on Tuesday, September 17th. Finally, Truist Financial upped their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Hold” and an average price target of $79.45.

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.