Rings Capital Management LLC Acquires 23,790 Shares of CarMax, Inc. (NYSE:KMX)

Rings Capital Management LLC raised its stake in CarMax, Inc. (NYSE:KMX) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 501,790 shares of the company’s stock after acquiring an additional 23,790 shares during the period. CarMax accounts for about 21.4% of Rings Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Rings Capital Management LLC owned about 0.33% of CarMax worth $41,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised 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 valued at $702,425,000 after purchasing an additional 282,519 shares in the last quarter. Norges Bank purchased a new stake in CarMax during the fourth quarter valued at about $423,187,000. Geode Capital Management LLC boosted its holdings in CarMax by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock worth $302,564,000 after buying an additional 47,058 shares during the last quarter. Invesco Ltd. grew its position in shares of CarMax by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,729,965 shares of the company’s stock worth $223,202,000 after buying an additional 27,716 shares during the period. Finally, First Pacific Advisors LP raised its stake in shares of CarMax by 0.6% in the 4th quarter. First Pacific Advisors LP now owns 2,397,062 shares of the company’s stock valued at $195,984,000 after purchasing an additional 13,487 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird decreased 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. Evercore ISI decreased their target price on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Royal Bank of Canada decreased their price objective on shares of CarMax from $103.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. 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 report on Thursday, March 27th. Finally, StockNews.com downgraded CarMax from a “hold” rating to a “sell” rating in a report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $87.73.

Insiders Place Their Bets

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now directly owns 227 shares of the company’s stock, valued at $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.66% of the company’s stock.

CarMax Stock Performance

NYSE KMX opened at $64.50 on Monday. The company has a market capitalization of $9.85 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.67 and a beta of 1.58. 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 52-week low of $63.23 and a 52-week high of $91.25. The company has a fifty day moving average of $76.62 and a 200-day moving average of $78.79.

CarMax 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.