CarMax, Inc. (NYSE:KMX) is Diamond Hill Capital Management Inc.'s 10th Largest Position

Diamond Hill Capital Management Inc. reduced its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,703,066 shares of the company's stock after selling 36,438 shares during the period. CarMax accounts for approximately 2.1% of Diamond Hill Capital Management Inc.'s portfolio, making the stock its 10th largest position. Diamond Hill Capital Management Inc. owned 4.29% of CarMax worth $491,603,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of KMX. Vanguard Group Inc. grew its holdings in shares of CarMax by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company's stock worth $1,387,222,000 after acquiring an additional 222,132 shares during the period. Norges Bank purchased a new position in shares of CarMax during the 4th quarter worth approximately $288,278,000. Morningstar Investment Services LLC grew its holdings in shares of CarMax by 95.4% during the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company's stock worth $211,516,000 after acquiring an additional 1,326,840 shares during the period. First Pacific Advisors LP grew its holdings in shares of CarMax by 2.0% during the 2nd 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. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CarMax by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,930,606 shares of the company's stock worth $148,168,000 after acquiring an additional 164,024 shares during the period.

Insider Activity

In other news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares of the company's stock, valued at approximately $965,567.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Jon G. Daniels sold 1,231 shares of the firm's stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the transaction, the senior vice president now directly owns 995 shares of the company's stock, valued at approximately $72,097.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mohammad Shamim sold 25,000 shares of the firm's stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The disclosure for this sale can be found here. Insiders have sold 185,243 shares of company stock valued at $14,893,042 in the last ninety days. 1.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial upped their price target on CarMax from $66.00 to $70.00 and gave the stock a "hold" rating in a research note on Monday, June 24th. Wedbush restated an "outperform" rating and issued a $95.00 price target on shares of CarMax in a research note on Friday, August 16th. Evercore ISI upped their price target on CarMax from $68.00 to $72.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 16th. Argus upgraded CarMax to a "hold" rating in a research note on Tuesday, June 25th. Finally, Needham & Company LLC cut their price target on CarMax from $91.00 to $87.00 and set a "buy" rating on the stock in a research note on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $76.25.

CarMax Stock Up 3.3 %

KMX stock traded up $2.50 during midday trading on Friday, hitting $78.78. The company's stock had a trading volume of 1,489,384 shares, compared to its average volume of 1,896,297. The company has a market cap of $12.30 billion, a PE ratio of 30.77, a P/E/G ratio of 1.53 and a beta of 1.69. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The firm's 50-day moving average is $80.14 and its 200-day moving average is $76.53.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $7.11 billion for the quarter, compared to analysts' expectations of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company's revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. On average, equities research analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

CarMax Company 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.