Kovitz Investment Group Partners LLC Grows Stake in CarMax, Inc. (NYSE:KMX)

Kovitz Investment Group Partners LLC boosted its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 348.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,595,067 shares of the company's stock after purchasing an additional 5,122,850 shares during the period. CarMax comprises approximately 1.8% of Kovitz Investment Group Partners LLC's holdings, making the stock its 18th largest holding. Kovitz Investment Group Partners LLC owned about 4.29% of CarMax worth $539,213,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KMX. Norges Bank bought a new stake in shares of CarMax during the 4th quarter valued at about $423,187,000. Raymond James Financial Inc. purchased a new position in shares of CarMax in the fourth quarter worth $31,061,000. Renaissance Technologies LLC boosted its position in shares of CarMax by 108.6% during the fourth quarter. Renaissance Technologies LLC now owns 695,900 shares of the company's stock valued at $56,897,000 after buying an additional 362,300 shares during the last quarter. Principal Financial Group Inc. raised its position in CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock worth $702,425,000 after buying an additional 282,519 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in CarMax by 25.3% during the 4th quarter. American Century Companies Inc. now owns 1,168,992 shares of the company's stock valued at $95,577,000 after acquiring an additional 235,805 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KMX. Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price objective on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Needham & Company LLC dropped their target price on CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Evercore ISI cut their price target on CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. Finally, Robert W. Baird lowered their price objective on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, CarMax presently has a consensus rating of "Hold" and a consensus target price of $87.73.

CarMax Price Performance

NYSE:KMX traded down $1.77 during trading hours on Wednesday, hitting $63.09. 1,134,148 shares of the stock traded hands, compared to its average volume of 2,096,139. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The stock has a 50 day moving average price of $73.41 and a 200 day moving average price of $78.40. CarMax, Inc. has a 1 year low of $61.67 and a 1 year high of $91.25.

Insider Buying and Selling at CarMax

In related news, Director Mitchell D. Steenrod acquired 1,300 shares of the company's stock in a transaction on 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 acquisition, 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 purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.66% of the company's stock.

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.