Baird Financial Group Inc. Acquires 119,666 Shares of CarMax, Inc. (NYSE:KMX)

Baird Financial Group Inc. grew its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,887,526 shares of the company's stock after purchasing an additional 119,666 shares during the period. Baird Financial Group Inc. owned about 1.88% of CarMax worth $236,084,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in CarMax during the 4th quarter worth $423,187,000. Kovitz Investment Group Partners LLC boosted its holdings in CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after purchasing an additional 5,122,850 shares during the last quarter. AQR Capital Management LLC grew its position in CarMax by 82.9% in the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock worth $114,465,000 after purchasing an additional 634,390 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CarMax in the 4th quarter valued at about $31,061,000. Finally, Renaissance Technologies LLC lifted its position in shares of CarMax by 108.6% during the 4th quarter. Renaissance Technologies LLC now owns 695,900 shares of the company's stock worth $56,897,000 after buying an additional 362,300 shares in the last quarter.

Insider Buying and Selling at CarMax

In other news, Director Mitchell D. Steenrod purchased 1,300 shares of the stock in a transaction dated Thursday, April 24th. The shares were purchased at an average cost of $65.49 per share, with a total value of $85,137.00. Following the completion of the acquisition, the director now owns 33,577 shares in the company, valued at $2,198,957.73. This represents a 4.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.66% of the company's stock.

CarMax Stock Performance

Shares of NYSE:KMX traded up $0.18 during trading on Tuesday, hitting $66.47. 2,310,547 shares of the company were exchanged, compared to its average volume of 2,116,986. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. CarMax, Inc. has a 52-week low of $61.67 and a 52-week high of $91.25. The company has a market cap of $10.15 billion, a PE ratio of 22.53, a P/E/G ratio of 1.67 and a beta of 1.45. The stock has a 50 day moving average of $71.75 and a 200 day moving average of $78.11.

Wall Street Analysts Forecast Growth

KMX has been the subject of a number of research analyst reports. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of CarMax in a research report on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. StockNews.com downgraded shares of CarMax from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a report on Monday, April 21st. Finally, Evercore ISI dropped their target price on shares of CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CarMax presently has a consensus rating of "Hold" and an average target price of $87.73.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.