First Manhattan CO. LLC. Buys 6,992 Shares of CarMax, Inc. (NYSE:KMX)

First Manhattan CO. LLC. grew its position in shares of CarMax, Inc. (NYSE:KMX) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 159,129 shares of the company’s stock after purchasing an additional 6,992 shares during the quarter. First Manhattan CO. LLC. owned about 0.10% of CarMax worth $13,010,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in CarMax by 3.4% in 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. Kovitz Investment Group Partners LLC lifted its position in shares of CarMax by 348.0% during 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 period. Norges Bank bought a new position in CarMax during the fourth quarter worth $423,187,000. Geode Capital Management LLC grew its holdings in CarMax by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock worth $302,564,000 after purchasing an additional 47,058 shares during the period. Finally, Baird Financial Group Inc. increased its stake in CarMax by 4.3% in the fourth quarter. Baird Financial Group Inc. now owns 2,887,526 shares of the company’s stock valued at $236,084,000 after purchasing an additional 119,666 shares in the last quarter.

CarMax Stock Performance

Shares of CarMax stock opened at $66.29 on Friday. The business’s fifty day simple moving average is $70.82 and its 200 day simple moving average is $77.95. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a 12 month low of $61.67 and a 12 month high of $91.25. The firm has a market capitalization of $10.12 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45.

Insider Transactions at CarMax

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 acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the acquisition, the director now owns 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. This represents a 4.03 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KMX shares. JPMorgan Chase & Co. reduced their target price on CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Needham & Company LLC decreased their price objective on CarMax from $101.00 to $92.00 and set a “buy” rating for the company in a report on Friday, April 11th. Cfra Research upgraded CarMax to a “strong-buy” rating in a report on Thursday, April 10th. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of CarMax in a research note on Monday, April 21st. Finally, Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CarMax presently has a consensus rating of “Hold” and an average price target of $87.73.

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.