ThornTree Capital Partners LP Takes $35.61 Million Position in CarMax, Inc. (NYSE:KMX)

ThornTree Capital Partners LP acquired a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 435,568 shares of the company's stock, valued at approximately $35,612,000. CarMax accounts for approximately 4.6% of ThornTree Capital Partners LP's investment portfolio, making the stock its 7th biggest position. ThornTree Capital Partners LP owned 0.28% of CarMax as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in CarMax by 10.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after acquiring an additional 307 shares during the period. Jones Financial Companies Lllp lifted its holdings in CarMax by 36.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock valued at $426,000 after purchasing an additional 1,396 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of CarMax in the fourth quarter valued at about $600,000. HF Advisory Group LLC increased its stake in shares of CarMax by 12.6% during the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company's stock worth $2,354,000 after purchasing an additional 3,222 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of CarMax by 3.4% during 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 in the last quarter.

Insiders Place Their Bets

In other CarMax news, Director Mitchell D. Steenrod purchased 1,300 shares of the business's stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the purchase, the director now directly owns 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KMX. Cfra Research raised shares of CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Evercore ISI lowered their price target on CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lowered their target price on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. Finally, Robert W. Baird reduced their target price on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $87.73.

CarMax Trading Down 0.2%

NYSE:KMX traded down $0.11 on Thursday, reaching $63.23. The company's stock had a trading volume of 2,913,816 shares, compared to its average volume of 2,171,319. CarMax, Inc. has a 12-month low of $61.67 and a 12-month high of $91.25. The stock has a 50 day moving average price of $69.76 and a 200 day moving average price of $77.64. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

About CarMax

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.