Oppenheimer Co Inc Lowers stake in CarMax Inc (KMX)

CarMax Inc (KMX) : Oppenheimer Co Inc reduced its stake in CarMax Inc by 0.83% during the most recent quarter end. The investment management company now holds a total of 932,262 shares of CarMax Inc which is valued at $55,161,943 after selling 7,779 shares in CarMax Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.CarMax Inc makes up approximately 1.58% of Oppenheimer Co Inc’s portfolio.

Other Hedge Funds, Including , Geneva Advisors added KMX to its portfolio by purchasing 4,500 company shares during the most recent quarter which is valued at $266,265. CarMax Inc makes up approx 0.01% of Geneva Advisors’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. reduced its stake in KMX by selling 205 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 31,673 shares of KMX which is valued at $1,780,023. CarMax Inc makes up approx 0.04% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Tarbox Group reduced its stake in KMX by selling 8 shares or 23.53% in the most recent quarter. The Hedge Fund company now holds 26 shares of KMX which is valued at $1,515.Pitcairn Co reduced its stake in KMX by selling 17 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 5,276 shares of KMX which is valued at $308,329. CarMax Inc makes up approx 0.04% of Pitcairn Co’s portfolio.

CarMax Inc opened for trading at $59.68 and hit $60.53 on the upside on Monday, eventually ending the session at $60.51, with a gain of 1.60% or 0.95 points. The heightened volatility saw the trading volume jump to 14,52,823 shares. Company has a market cap of $11,586 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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