Gabelli Funds LLC Boosts Stake in CarMax, Inc. (NYSE:KMX)

Gabelli Funds LLC boosted its stake in CarMax, Inc. (NYSE:KMX) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 64,000 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Gabelli Funds LLC’s holdings in CarMax were worth $5,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cromwell Holdings LLC grew its stake in shares of CarMax by 104.8% in the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after buying an additional 217 shares in the last quarter. Allworth Financial LP grew its position in CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after acquiring an additional 249 shares in the last quarter. ST Germain D J Co. Inc. acquired a new position in CarMax in the 4th quarter valued at about $58,000. Farther Finance Advisors LLC lifted its position in shares of CarMax by 91.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company’s stock worth $82,000 after purchasing an additional 480 shares in the last quarter. Finally, BankPlus Trust Department purchased a new position in shares of CarMax in the fourth quarter valued at approximately $85,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KMX. Royal Bank of Canada cut their target price on shares of CarMax from $103.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Wedbush lowered their target price on CarMax from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. StockNews.com lowered CarMax from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Finally, Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $87.73.

CarMax Price Performance

Shares of NYSE KMX opened at $64.50 on Friday. The company’s fifty day moving average is $77.07 and its two-hundred day moving average is $78.83. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The firm has a market capitalization of $9.85 billion, a P/E ratio of 21.87, a PEG ratio of 1.67 and a beta of 1.58. CarMax, Inc. has a one year low of $63.23 and a one year high of $91.25.

Insider Buying and Selling

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 227 shares of the company’s stock, valued at approximately $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.66% of the stock is owned by insiders.

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.