Verus Financial Partners buys $2,652,908 stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Verus Financial Partners scooped up 396 additional shares in CarMax Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 47,826 shares of CarMax Inc which is valued at $2,652,908.CarMax Inc makes up approximately 1.17% of Verus Financial Partners’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management boosted its stake in KMX in the latest quarter, The investment management firm added 308 additional shares and now holds a total of 7,383 shares of CarMax Inc which is valued at $409,535. CarMax Inc makes up approx 0.03% of Eqis Capital Management’s portfolio.Partnerre Asset Management Corp reduced its stake in KMX by selling 100 shares or 7.17% in the most recent quarter. The Hedge Fund company now holds 1,294 shares of KMX which is valued at $71,778. CarMax Inc makes up approx 0.04% of Partnerre Asset Management Corp’s portfolio.Sarasin Partners Llp reduced its stake in KMX by selling 326,526 shares or 9.24% in the most recent quarter. The Hedge Fund company now holds 3,208,427 shares of KMX which is valued at $177,971,446. CarMax Inc makes up approx 2.85% of Sarasin Partners Llp’s portfolio.Chevy Chase Trust Holdings boosted its stake in KMX in the latest quarter, The investment management firm added 428 additional shares and now holds a total of 165,580 shares of CarMax Inc which is valued at $8,721,099. CarMax Inc makes up approx 0.05% of Chevy Chase Trust Holdings’s portfolio.

CarMax Inc opened for trading at $55.11 and hit $55.81 on the upside on Monday, eventually ending the session at $55.47, with a gain of 0.43% or 0.24 points. The heightened volatility saw the trading volume jump to 19,87,471 shares. Company has a market cap of $10,621 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.

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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