CarMax, Inc. (NYSE:KMX) is Eldred Rock Partners LLC's 10th Largest Position

Eldred Rock Partners LLC grew its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 154,941 shares of the company's stock after buying an additional 14,289 shares during the period. CarMax accounts for 3.7% of Eldred Rock Partners LLC's portfolio, making the stock its 10th biggest position. Eldred Rock Partners LLC owned approximately 0.10% of CarMax worth $11,961,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in CarMax by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock worth $702,425,000 after purchasing an additional 282,519 shares during the period. Kovitz Investment Group Partners LLC grew its stake in CarMax by 348.0% in 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 period. Norges Bank purchased a new stake in CarMax in the fourth quarter worth $423,187,000. Janus Henderson Group PLC grew its stake in CarMax by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company's stock worth $381,978,000 after purchasing an additional 29,715 shares during the period. Finally, Geode Capital Management LLC grew its stake in CarMax by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company's stock worth $302,564,000 after purchasing an additional 47,058 shares during the period.

Wall Street Analysts Forecast Growth

KMX has been the topic of several recent research reports. Evercore ISI reduced their price target on CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Cfra Research raised CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of CarMax in a report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $85.82.

Insider Activity

In other CarMax 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 directly 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 accessible through this hyperlink. Corporate insiders own 1.70% of the company's stock.

CarMax Stock Performance

Shares of NYSE:KMX traded up $0.16 during midday trading on Thursday, reaching $66.07. 720,399 shares of the company's stock traded hands, compared to its average volume of 2,251,214. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 1.67 and a beta of 1.45. 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 one year low of $61.34 and a one year high of $91.25. The stock has a 50 day moving average of $67.88 and a 200 day moving average of $76.78.

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.