CarMax, Inc. (NYSE:KMX) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth lifted its position in CarMax, Inc. (NYSE:KMX - Free Report) by 90.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,783 shares of the company's stock after purchasing an additional 9,878 shares during the quarter. Focus Partners Wealth's holdings in CarMax were worth $1,699,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock valued at $702,425,000 after purchasing an additional 282,519 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of CarMax by 348.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock valued at $539,213,000 after buying an additional 5,122,850 shares during the period. Norges Bank acquired a new position in CarMax in the fourth quarter valued at approximately $423,187,000. Geode Capital Management LLC lifted its holdings in CarMax by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company's stock valued at $302,564,000 after acquiring an additional 47,058 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in CarMax by 4.3% in the fourth quarter. Baird Financial Group Inc. now owns 2,887,526 shares of the company's stock worth $236,084,000 after acquiring an additional 119,666 shares during the period.

Insider Activity

In other news, Director Mitchell D. Steenrod acquired 1,300 shares of CarMax stock in a transaction that occurred on Thursday, April 24th. The stock was 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 trade represents a 4.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.70% of the company's stock.

CarMax Price Performance

KMX traded down $0.23 on Thursday, hitting $63.12. 577,319 shares of the company were exchanged, compared to its average volume of 2,162,249. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The business's fifty day moving average is $69.76 and its 200 day moving average is $77.64. CarMax, Inc. has a fifty-two week low of $61.67 and a fifty-two week high of $91.25. The firm has a market capitalization of $9.64 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45.

Wall Street Analyst Weigh In

A number of research firms have commented on KMX. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Needham & Company LLC lowered their target price on shares of CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Evercore ISI dropped their price target on shares of CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $87.73.

CarMax Company 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.