CarMax, Inc. (NYSE:KMX) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its position in CarMax, Inc. (NYSE:KMX - Free Report) by 47.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,300 shares of the company's stock after selling 178,753 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.13% of CarMax worth $16,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of CarMax by 3.4% in 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 acquired a new position in shares of CarMax in the fourth quarter worth $423,187,000. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 47,058 shares during the period. Invesco Ltd. raised its stake in shares of CarMax by 1.0% in the fourth quarter. Invesco Ltd. now owns 2,729,965 shares of the company's stock valued at $223,202,000 after acquiring an additional 27,716 shares in the last quarter. Finally, First Pacific Advisors LP raised its position in 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 in the last quarter.

CarMax Price Performance

Shares of KMX opened at $65.04 on Friday. 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 fifty-two week low of $61.67 and a fifty-two week high of $91.25. The firm has a 50-day simple moving average of $74.28 and a 200-day simple moving average of $78.49. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58.

Insiders Place Their Bets

In other news, Director Mitchell D. Steenrod purchased 1,300 shares of the business's stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This trade represents a 4.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction that occurred 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 in the company, valued at $19,199.66. This represents a 95.55 % decrease in their position. The disclosure for this sale can be found here. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KMX shares. Cfra Research raised shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Robert W. Baird lowered their price objective on 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 cut their target price on CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target on shares of CarMax in a report on Monday, April 21st. Finally, Royal Bank of Canada reissued an "underperform" rating on shares of CarMax in a report on Monday, April 21st. Four research analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company 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.

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