Diamond Hill Capital Management Inc. Sells 395,145 Shares of CarMax, Inc. (NYSE:KMX)

Diamond Hill Capital Management Inc. reduced its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,307,921 shares of the company's stock after selling 395,145 shares during the quarter. CarMax accounts for 2.0% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 15th biggest holding. Diamond Hill Capital Management Inc. owned approximately 4.07% of CarMax worth $488,107,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Pacific Advisors LP lifted its holdings in CarMax by 2.0% during the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company's stock worth $175,005,000 after acquiring an additional 47,184 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of CarMax by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company's stock valued at $147,230,000 after buying an additional 51,397 shares in the last quarter. Vulcan Value Partners LLC lifted its stake in shares of CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company's stock worth $133,773,000 after buying an additional 1,369,986 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in CarMax by 21.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company's stock worth $121,479,000 after purchasing an additional 288,165 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its stake in shares of CarMax by 11.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,343,290 shares of the company's stock worth $98,517,000 after acquiring an additional 134,987 shares during the last quarter.

CarMax Price Performance

Shares of KMX traded up $1.63 during mid-day trading on Monday, hitting $77.17. 443,339 shares of the company traded hands, compared to its average volume of 1,894,934. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a one year low of $62.45 and a one year high of $88.22. The business has a 50-day moving average of $75.63 and a 200 day moving average of $75.19. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 1.54 and a beta of 1.68.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the company earned $0.75 EPS. CarMax's quarterly revenue was down .9% on a year-over-year basis. As a group, equities analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on KMX shares. Oppenheimer reaffirmed an "outperform" rating and set a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. BNP Paribas raised CarMax to a "strong sell" rating in a report on Friday, September 27th. Truist Financial upped their price objective on shares of CarMax from $70.00 to $75.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Evercore ISI boosted their target price on CarMax from $76.00 to $79.00 and gave the company an "in-line" rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, CarMax presently has an average rating of "Hold" and a consensus price target of $79.73.

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.