CarMax, Inc. $KMX Shares Sold by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor reduced its position in shares of CarMax, Inc. (NYSE:KMX) by 34.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,628,905 shares of the company’s stock after selling 841,691 shares during the period. Diamond Hill Capital Management LLC Investment Advisor’s holdings in CarMax were worth $86,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in KMX. Basecamp Wealth Advisors LLC increased its position in CarMax by 105.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 327 shares during the period. Huntington National Bank lifted its holdings in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of CarMax in the 2nd quarter valued at approximately $28,000. Global Retirement Partners LLC purchased a new stake in shares of CarMax in the second quarter valued at approximately $29,000. Finally, Wellington Grp LLC boosted its stake in shares of CarMax by 6,500.0% in the first quarter. Wellington Grp LLC now owns 726 shares of the company’s stock valued at $30,000 after buying an additional 715 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Keith Barr acquired 9,400 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $53.01 per share, with a total value of $498,294.00. Following the purchase, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sona Chawla acquired 2,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were bought at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the acquisition, the director owned 21,702 shares in the company, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 13,900 shares of company stock worth $735,574. 1.01% of the stock is owned by company insiders.

CarMax Stock Down 0.1%

KMX opened at $59.85 on Monday. The business’s fifty day simple moving average is $54.63 and its 200 day simple moving average is $46.51. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The firm has a market cap of $8.49 billion, a P/E ratio of 39.12, a PEG ratio of 2.74 and a beta of 1.15. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $62.56.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Trending Headlines about CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: Zacks upgraded CarMax from “Hold” to “Strong Buy.” The firm raised multiple EPS forecasts, including estimates for FY2028 to $3.11 from $2.96 and FY2029 to $3.90 from $3.21. It also increased quarterly projections for Q1 2028, Q2 2028, Q3 2028, Q4 2028 and Q1 2029, signaling improving expectations for the used-car retailer’s longer-term earnings power. Zacks upgrade and earnings estimates
• Neutral Sentiment: CarMax’s latest reported quarter provides fundamental support: revenue increased 6.2% year over year to $8.01 billion and earnings of $1.31 per share exceeded the $0.96 analyst consensus. However, earnings were below the $1.38 per share reported in the prior-year period, and the company’s current-year consensus EPS estimate remains $2.73.
• Negative Sentiment: One valuation analysis says CarMax stock looks stretched following a 53% five-year slump and subsequent recovery. With shares near their 52-week high and trading at roughly 39 times earnings, investors may be concerned that the current valuation already discounts much of the expected improvement. CarMax stock looks stretched after a 53% five-year slump
• Negative Sentiment: A separate analysis concludes that CarMax could be approximately 7% above fair value, citing the impact of a leadership change. This raises the risk that the stock’s recent gains have outpaced its underlying fundamentals and could limit further upside. CarMax could be 7% above fair value on leadership change

Wall Street Analysts Forecast Growth

KMX has been the subject of several research analyst reports. Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $37.00 to $61.00 in a research report on Tuesday, July 21st. Weiss Ratings raised shares of CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Morgan Stanley raised their price objective on shares of CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. UBS Group set a $60.00 target price on shares of CarMax in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upgraded shares of CarMax from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $38.00 to $60.00 in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.00.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.