Graham Capital Management L.P. Takes $998,000 Position in CarMax, Inc. (NYSE:KMX)

Graham Capital Management L.P. acquired a new stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,204 shares of the company's stock, valued at approximately $998,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its position in CarMax by 10.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after buying an additional 307 shares during the period. Jones Financial Companies Lllp lifted its position 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 buying an additional 1,396 shares during the period. HF Advisory Group LLC lifted its position in CarMax by 12.6% during the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company's stock valued at $2,354,000 after buying an additional 3,222 shares during the period. Merit Financial Group LLC purchased a new position in CarMax during the fourth quarter valued at $600,000. Finally, Principal Financial Group Inc. increased its holdings 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 valued at $702,425,000 after acquiring an additional 282,519 shares in the last quarter.

CarMax Stock Performance

Shares of KMX stock traded down $0.74 during trading hours on Friday, reaching $67.16. 2,631,125 shares of the company traded hands, compared to its average volume of 2,152,857. CarMax, Inc. has a 12-month low of $61.67 and a 12-month high of $91.25. 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 company has a market cap of $10.25 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.67 and a beta of 1.45. The firm has a 50-day moving average price of $70.04 and a 200 day moving average price of $77.79.

Insider Activity

In other news, Director Mitchell D. Steenrod acquired 1,300 shares of CarMax stock in a transaction on Thursday, April 24th. The shares were acquired at an average price of $65.49 per share, with a total value of $85,137.00. Following the purchase, the director now directly owns 33,577 shares in the company, valued at $2,198,957.73. The trade was a 4.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. Needham & Company LLC reduced their price target on CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a report on Friday, April 11th. Evercore ISI reduced their price target on CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Cfra Research upgraded CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Finally, Robert W. Baird reduced their price target on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CarMax has a consensus 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.