Davis Selected Advisers buys $563.2 Million stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Davis Selected Advisers scooped up 2,102,697 additional shares in CarMax Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 11,115,985 shares of CarMax Inc which is valued at $563.2 Million.CarMax Inc makes up approximately 2.43% of Davis Selected Advisers’s portfolio.

Other Hedge Funds, Including , Verition Fund Management added KMX to its portfolio by purchasing 7,595 company shares during the most recent quarter which is valued at $384,839. CarMax Inc makes up approx 0.10% of Verition Fund Management’s portfolio.Canada Pension Plan Investment Board boosted its stake in KMX in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 2,600 shares of CarMax Inc which is valued at $131,742.Mackenzie Financial Corp boosted its stake in KMX in the latest quarter, The investment management firm added 3,190 additional shares and now holds a total of 21,037 shares of CarMax Inc which is valued at $1.1 Million. CarMax Inc makes up approx 0.01% of Mackenzie Financial Corp’s portfolio.Sg Americas Securities reduced its stake in KMX by selling 2,036 shares or 36.92% in the most recent quarter. The Hedge Fund company now holds 3,479 shares of KMX which is valued at $176,281.Rhumbline Advisers reduced its stake in KMX by selling 7,203 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 322,816 shares of KMX which is valued at $16.3 Million. CarMax Inc makes up approx 0.05% of Rhumbline Advisers’s portfolio.

CarMax Inc opened for trading at $53.04 and hit $54.6 on the upside on Wednesday, eventually ending the session at $54.04, with a gain of 2.17% or 1.15 points. The heightened volatility saw the trading volume jump to 23,17,324 shares. Company has a market cap of $10,475 M.

On the company’s financial health, CarMax Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 7, 2016. Analyst had a consensus of $0.71. The company had revenue of $3705.00 million for the quarter, compared to analysts expectations of $3681.66 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on CarMax Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 8, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 54 from a previous price target of $53 .CarMax Inc was Downgraded by Sterne Agee CRT to ” Neutral” on Mar 28, 2016. CarMax Inc was Downgraded by Northcoast to ” Neutral” on Mar 11, 2016.

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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