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Vulcan Value Partners highlights CarMax after Q2 2026 investor letter
In its Q2 2026 update, the firm said Fiscal 1Q 2027 results were in line with expectations and cited volume responses to pricing investments.
Vulcan Value Partners released its second-quarter 2026 investor letter, emphasizing long-term returns and lower risk compared with short-term performance, according to Yahoo Finance. The firm reported double-digit net gains across several composites, including 13.3% for the Small Cap Composite and 10.4% for the Focus Composite.
The letter also discussed CarMax, Inc. (NYSE: KMX), a used vehicle retailer headquartered in Richmond, Virginia. Vulcan Value Partners highlighted the stock as having performed well during the quarter, noting that Fiscal 1Q 2027 results, which end in May, were in line with management expectations, and that volumes continued to respond favorably to targeted investments in price.
Vulcan Value Partners pointed to a new CEO at CarMax, Keith Barr, who was hired earlier this year, and it said its favorable view of Barr dates back to his prior CEO tenure at InterContinental Hotels Group. The firm also said that, with the stock price rising and its value stable, it reallocated capital to more discounted names in its portfolio.
The article further provides recent trading context for CarMax, including a close of $59.11 per share on July 29, 2026, and a market capitalization of $8.39 billion. It also notes CarMax posted a 15.95% return over one month and gained 1.87% over the past 52 weeks.