Giverny Capital buys $49,963,931 stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Giverny Capital scooped up 13,791 additional shares in CarMax Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 838,884 shares of CarMax Inc which is valued at $49,963,931.CarMax Inc makes up approximately 9.25% of Giverny Capital’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds boosted its stake in KMX in the latest quarter, The investment management firm added 20,494 additional shares and now holds a total of 829,925 shares of CarMax Inc which is valued at $49,430,333. CarMax Inc makes up approx 0.06% of Oppenheimerfunds’s portfolio. Janney Montgomery Scott added KMX to its portfolio by purchasing 6,344 company shares during the most recent quarter which is valued at $373,344. CarMax Inc makes up approx 0.01% of Janney Montgomery Scott’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in KMX in the latest quarter, The investment management firm added 42,684 additional shares and now holds a total of 296,698 shares of CarMax Inc which is valued at $17,460,677. CarMax Inc makes up approx 0.05% of State Board Of Administration Of Florida Retirement System’s portfolio.Mutual Of America Capital Management boosted its stake in KMX in the latest quarter, The investment management firm added 2,022 additional shares and now holds a total of 22,444 shares of CarMax Inc which is valued at $1,261,353. CarMax Inc makes up approx 0.03% of Mutual Of America Capital Management’s portfolio.Mizuho Trust Banking Ltd. reduced its stake in KMX by selling 9,851 shares or 2.9% in the most recent quarter. The Hedge Fund company now holds 329,869 shares of KMX which is valued at $18,538,638. CarMax Inc makes up approx 0.06% of Mizuho Trust Banking Ltd.’s portfolio.

CarMax Inc opened for trading at $59.4 and hit $59.78 on the upside on Tuesday, eventually ending the session at $59.09, with a gain of 0.27% or 0.16 points. The heightened volatility saw the trading volume jump to 17,03,553 shares. Company has a market cap of $11,314 M.

On the company’s financial health, CarMax Inc reported $0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 21, 2016. Analyst had a consensus of $0.92. The company had revenue of $4126.40 million for the quarter, compared to analysts expectations of $4203.38 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Many Wall Street Analysts have commented on CarMax Inc. Company shares were Reiterated by Wedbush on Aug 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $44 .

CarMax Inc. (CarMax) is a holding company engaged in providing used vehicles and related products and services. The Company operates through two business 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. The CarMax Sales Operations segment sells used vehicles purchases used vehicles from customers and other sources sells related products and services and arranges financing options for customers. The Company’s CAF segment consists of its own finance operation that provides vehicle financing through CarMax stores. The CAF products and services include retail merchandising wholesale auctions extended protection plans (EPPs) reconditioning and service and customer credit.

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