Bamco Inc. NY Trims Stock Position in CarMax, Inc. (NYSE:KMX)

Bamco Inc. NY cut its stake in CarMax, Inc. (NYSE:KMX) by 10.8% in the fourth quarter, HoldingsChannel reports. The fund owned 12,582 shares of the company’s stock after selling 1,516 shares during the period. Bamco Inc. NY’s holdings in CarMax were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMX. Principal Financial Group Inc. raised its stake in CarMax by 3.4% in the 4th 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 during the last quarter. Kovitz Investment Group Partners LLC grew its position in 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 acquiring an additional 5,122,850 shares during the period. Norges Bank purchased a new stake in CarMax in the fourth quarter valued at $423,187,000. Geode Capital Management LLC lifted its position in CarMax by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock valued at $302,564,000 after buying an additional 47,058 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of CarMax by 1.0% in the 4th quarter. Invesco Ltd. now owns 2,729,965 shares of the company’s stock worth $223,202,000 after acquiring an additional 27,716 shares during the last quarter.

CarMax Trading Down 0.5 %

NYSE KMX opened at $66.37 on Tuesday. CarMax, Inc. has a 12 month low of $61.67 and a 12 month high of $91.25. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The firm’s fifty day moving average price is $72.06 and its 200 day moving average price is $78.19.

Analysts Set New Price Targets

A number of equities analysts recently commented on KMX shares. Cfra Research upgraded CarMax to a “strong-buy” rating in a report on Thursday, April 10th. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of CarMax in a report on Monday, April 21st. Needham & Company LLC dropped their price target on shares of CarMax from $101.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Evercore ISI cut their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Finally, StockNews.com lowered CarMax from a “hold” rating to a “sell” rating in a report on Friday, April 11th. Four investment 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $87.73.

Insider Transactions at CarMax

In related news, Director Mitchell D. Steenrod acquired 1,300 shares of CarMax stock in a transaction on 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 purchase, the director now directly owns 33,577 shares in the company, valued at approximately $2,198,957.73. The trade was a 4.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.66% of the company’s stock.

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.