MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes Position in CarMax, Inc. (NYSE:KMX)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,440 shares of the company's stock, valued at approximately $580,000.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new position in CarMax in the 4th quarter valued at $423,187,000. Kovitz Investment Group Partners LLC grew its position in CarMax by 348.0% in 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 acquiring 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 valued at $114,465,000 after acquiring an additional 634,390 shares during the last quarter. GAMMA Investing LLC grew its position in CarMax by 8,675.6% in the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock valued at $40,193,000 after acquiring an additional 509,952 shares during the last quarter. Finally, ThornTree Capital Partners LP bought a new position in CarMax in the 4th quarter valued at $35,612,000.

CarMax Trading Down 1.9%

Shares of NYSE KMX opened at $64.84 on Monday. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The stock has a market capitalization of $9.90 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38. CarMax, Inc. has a 1-year low of $61.34 and a 1-year high of $91.25. The business has a fifty day moving average price of $66.41 and a 200 day moving average price of $75.99.

Wall Street Analyst Weigh In

KMX has been the topic of several research analyst reports. Evercore ISI cut their price objective on CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Needham & Company LLC cut their price objective on CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Cfra Research raised CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Finally, Royal Bank of Canada reaffirmed an "underperform" rating on shares of CarMax in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, CarMax has an average rating of "Hold" and a consensus target price of $85.82.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod acquired 1,300 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the purchase, the director now directly owns 33,577 shares of the company's stock, valued at $2,198,957.73. This trade represents a 4.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

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.

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