First Manhattan Co. Sells 1,500 Shares of CarMax Inc (KMX)

First Manhattan Co. reduced its position in shares of CarMax Inc (NYSE:KMX) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 164,375 shares of the company’s stock after selling 1,500 shares during the quarter. First Manhattan Co. owned 0.09% of CarMax worth $12,461,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of CarMax by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock valued at $1,146,758,000 after purchasing an additional 380,038 shares during the period. BlackRock Inc. grew its stake in shares of CarMax by 0.5% during the 2nd quarter. BlackRock Inc. now owns 11,142,473 shares of the company’s stock valued at $702,643,000 after purchasing an additional 53,840 shares during the period. Principal Financial Group Inc. grew its stake in shares of CarMax by 8.3% during the 2nd quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock valued at $578,702,000 after purchasing an additional 706,369 shares during the period. Broad Run Investment Management LLC grew its stake in shares of CarMax by 0.9% during the 2nd quarter. Broad Run Investment Management LLC now owns 3,377,241 shares of the company’s stock valued at $212,969,000 after purchasing an additional 29,846 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of CarMax by 751.0% during the 2nd quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock valued at $135,465,000 after purchasing an additional 1,895,763 shares during the period.

In other news, Director William R. Tiefel sold 23,000 shares of CarMax stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $76.39, for a total value of $1,756,970.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Diane L. Cafritz sold 5,671 shares of CarMax stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $73.95, for a total value of $419,370.45. Following the completion of the sale, the senior vice president now directly owns 7,475 shares in the company, valued at $552,776.25. The disclosure for this sale can be found here. Insiders sold 584,502 shares of company stock worth $43,183,127 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Shares of CarMax Inc (NYSE:KMX) opened at 75.10 on Wednesday. CarMax Inc has a one year low of $47.50 and a one year high of $77.64. The stock has a market capitalization of $13.69 billion, a PE ratio of 20.68 and a beta of 1.38. The stock’s 50 day moving average price is $73.87 and its 200 day moving average price is $65.87.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.03. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Equities research analysts predict that CarMax Inc will post $3.81 EPS for the current fiscal year.

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KMX has been the subject of a number of recent research reports. CIBC restated a “buy” rating on shares of CarMax in a research note on Tuesday, July 4th. Deutsche Bank AG cut their price target on CarMax from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, July 4th. Royal Bank Of Canada restated a “market perform” rating and set a $63.00 price target (down from $71.00) on shares of CarMax in a research note on Tuesday, July 4th. Wedbush set a $73.00 price target on CarMax and gave the company a “buy” rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CarMax currently has an average rating of “Hold” and an average target price of $77.93.

About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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