Giverny Capital buys $41.8 Million stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Giverny Capital scooped up 144,426 additional shares in CarMax Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 825,093 shares of CarMax Inc which is valued at $41.8 Million.CarMax Inc makes up approximately 8.43% of Giverny Capital’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank boosted its stake in KMX in the latest quarter, The investment management firm added 1,487 additional shares and now holds a total of 7,775 shares of CarMax Inc which is valued at $393,959. CarMax Inc makes up approx 0.04% of Amalgamated Bank’s portfolio.Diam Ltd. boosted its stake in KMX in the latest quarter, The investment management firm added 1,865 additional shares and now holds a total of 20,359 shares of CarMax Inc which is valued at $1 Million. CarMax Inc makes up approx 0.01% of Diam Ltd.’s portfolio.Hudson Canyon Investment Counselors boosted its stake in KMX in the latest quarter, The investment management firm added 4,500 additional shares and now holds a total of 26,700 shares of CarMax Inc which is valued at $1.3 Million. CarMax Inc makes up approx 1.54% of Hudson Canyon Investment Counselors’s portfolio. Whittier Trust Co Of Nevada Inc sold out all of its stake in KMX during the most recent quarter. The investment firm sold 1,100 shares of KMX which is valued $58,245.Commonwealth Equity Services Inc boosted its stake in KMX in the latest quarter, The investment management firm added 2,099 additional shares and now holds a total of 9,488 shares of CarMax Inc which is valued at $502,390.

CarMax Inc closed down -0.03 points or -0.06% at $50.64 with 23,13,435 shares getting traded on Monday. Post opening the session at $50.66, the shares hit an intraday low of $50.3 and an intraday high of $51.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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