Biglari Sardar Buys 6,000 Shares of CarMax, Inc. (NYSE:KMX)

Biglari Sardar raised its stake in CarMax, Inc. (NYSE:KMX) by 24.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 30,600 shares of the company’s stock after buying an additional 6,000 shares during the quarter. CarMax comprises approximately 5.0% of Biglari Sardar’s investment portfolio, making the stock its 9th biggest position. Biglari Sardar’s holdings in CarMax were worth $2,368,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Baker Tilly Wealth Management LLC raised its holdings in shares of CarMax by 4.6% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock worth $217,000 after buying an additional 130 shares in the last quarter. Peoples Bank KS raised its position in CarMax by 10.0% in the second quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock valued at $108,000 after purchasing an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of CarMax by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock valued at $456,000 after purchasing an additional 142 shares in the last quarter. Allegheny Financial Group LTD grew its holdings in shares of CarMax by 4.1% during the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after purchasing an additional 143 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its stake in shares of CarMax by 1.6% in the third quarter. Sompo Asset Management Co. Ltd. now owns 10,602 shares of the company’s stock valued at $820,000 after buying an additional 170 shares during the period.

Analyst Upgrades and Downgrades

KMX has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price target on shares of CarMax in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $105.00 target price on shares of CarMax in a report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.73.

CarMax Price Performance

Shares of KMX opened at $83.97 on Monday. The business’s fifty day moving average is $75.93 and its 200 day moving average is $76.20. CarMax, Inc. has a 12-month low of $62.90 and a 12-month high of $88.22. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The stock has a market cap of $13.01 billion, a P/E ratio of 31.57, a P/E/G ratio of 1.71 and a beta of 1.68.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. Sell-side analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

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.