435,568 Shares in CarMax, Inc. (NYSE:KMX) Acquired by ThornTree Capital Partners LP

ThornTree Capital Partners LP purchased a new stake in shares of CarMax, Inc. (NYSE:KMX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 435,568 shares of the company’s stock, valued at approximately $35,612,000. CarMax makes up about 4.6% of ThornTree Capital Partners LP’s investment portfolio, making the stock its 7th biggest position.

Several other large investors have also added to or reduced their stakes in KMX. Norges Bank purchased a new position in CarMax during the fourth quarter valued at approximately $423,187,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after buying an additional 5,122,850 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of CarMax by 82.9% in the fourth quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company’s stock worth $114,465,000 after buying an additional 634,390 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of CarMax in the fourth quarter worth $31,061,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of CarMax by 108.6% in the fourth quarter. Renaissance Technologies LLC now owns 695,900 shares of the company’s stock worth $56,897,000 after buying an additional 362,300 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KMX. Needham & Company LLC lowered their target price on shares of CarMax from $101.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. Royal Bank of Canada restated an “underperform” rating on shares of CarMax in a research report on Monday, April 21st. Evercore ISI reduced their price target on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of CarMax in a research report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.73.

Insider Buying and Selling at CarMax

In related news, Director Mitchell D. Steenrod bought 1,300 shares of the stock in a transaction dated Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, with a total value of $85,137.00. Following the completion of the purchase, the director now owns 33,577 shares of the company’s stock, valued at $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

CarMax Trading Down 1.1%

KMX stock opened at $67.16 on Friday. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a twelve month low of $61.67 and a twelve month high of $91.25. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45. The firm’s fifty day simple moving average is $70.04 and its two-hundred day simple moving average is $77.81.

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.