Yacktman Asset Management LP Has $3.92 Million Stake in Copart, Inc. $CPRT

Yacktman Asset Management LP raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 33.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 100,170 shares of the business services provider’s stock after purchasing an additional 24,975 shares during the period. Yacktman Asset Management LP’s holdings in Copart were worth $3,922,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CPRT. AQR Capital Management LLC boosted its stake in Copart by 298.2% during the 3rd quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock valued at $217,243,000 after purchasing an additional 3,660,031 shares during the last quarter. Van ECK Associates Corp boosted its stake in Copart by 2,266.7% during the 3rd quarter. Van ECK Associates Corp now owns 3,689,003 shares of the business services provider’s stock valued at $165,895,000 after purchasing an additional 3,533,133 shares during the last quarter. Akre Capital Management LLC boosted its stake in Copart by 253.1% during the 3rd quarter. Akre Capital Management LLC now owns 4,236,760 shares of the business services provider’s stock valued at $190,527,000 after purchasing an additional 3,036,760 shares during the last quarter. Vanguard Group Inc. boosted its stake in Copart by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock valued at $4,901,310,000 after purchasing an additional 2,581,784 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Copart by 395.6% during the 3rd quarter. Marshall Wace LLP now owns 2,499,370 shares of the business services provider’s stock valued at $112,397,000 after purchasing an additional 1,995,074 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 0.2%

Copart stock opened at $33.94 on Friday. Copart, Inc. has a 52 week low of $32.20 and a 52 week high of $63.85. The company’s 50 day moving average price is $34.17 and its two-hundred day moving average price is $38.00. The stock has a market cap of $32.69 billion, a P/E ratio of 21.21 and a beta of 1.02.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business earned $0.40 EPS. Copart’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. cut their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.40.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.