Adage Capital Partners GP L.L.C. Has $16.05 Million Stock Holdings in CarMax, Inc. (NYSE:KMX)

Adage Capital Partners GP L.L.C. cut its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 47.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,300 shares of the company's stock after selling 178,753 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.13% of CarMax worth $16,049,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Sompo Asset Management Co. Ltd. lifted its stake in CarMax by 86.5% during the fourth quarter. Sompo Asset Management Co. Ltd. now owns 19,776 shares of the company's stock valued at $1,617,000 after buying an additional 9,174 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in CarMax by 7.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 124,372 shares of the company's stock valued at $10,169,000 after buying an additional 8,293 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in CarMax by 117.6% during the fourth quarter. Dark Forest Capital Management LP now owns 7,450 shares of the company's stock valued at $609,000 after buying an additional 4,027 shares in the last quarter. Fayez Sarofim & Co purchased a new stake in CarMax during the fourth quarter valued at about $862,000. Finally, Rings Capital Management LLC lifted its stake in CarMax by 5.0% during the fourth quarter. Rings Capital Management LLC now owns 501,790 shares of the company's stock valued at $41,026,000 after buying an additional 23,790 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KMX shares. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective on shares of CarMax in a research note on Monday, April 21st. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a report on Monday, April 21st. Finally, Robert W. Baird lowered their price target on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Four analysts have rated the stock with a sell rating, three have issued 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, CarMax currently has an average rating of "Hold" and an average target price of $87.73.

CarMax Stock Performance

Shares of KMX traded down $0.33 during trading hours on Tuesday, reaching $64.78. 2,785,876 shares of the company traded hands, compared to its average volume of 2,099,680. The stock's fifty day moving average is $73.41 and its 200 day moving average is $78.40. The stock has a market cap of $9.89 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax, Inc. has a 1-year low of $61.67 and a 1-year high of $91.25.

Insider Activity

In related news, Director Mitchell D. Steenrod acquired 1,300 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was acquired at an average price of $65.49 per share, with a total value of $85,137.00. Following the completion of the transaction, the director now owns 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This represents a 4.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.66% of the stock is owned by company insiders.

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.