Akre Capital Management LLC Has $54.57 Million Stake in CarMax, Inc. (NYSE:KMX)

Akre Capital Management LLC lowered its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 48.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,437 shares of the company's stock after selling 629,714 shares during the period. CarMax comprises 0.5% of Akre Capital Management LLC's investment portfolio, making the stock its 13th biggest position. Akre Capital Management LLC owned approximately 0.43% of CarMax worth $54,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in KMX. Cromwell Holdings LLC lifted its stake in CarMax by 104.8% in the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock worth $35,000 after acquiring an additional 217 shares during the last quarter. Allworth Financial LP increased its stake in CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock valued at $51,000 after purchasing an additional 249 shares during the last quarter. ST Germain D J Co. Inc. acquired a new stake in CarMax during the fourth quarter worth approximately $58,000. Farther Finance Advisors LLC boosted its holdings in shares of CarMax by 91.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company's stock valued at $82,000 after buying an additional 480 shares in the last quarter. Finally, BankPlus Trust Department acquired a new stake in CarMax during the 4th quarter worth $85,000.

CarMax Stock Up 1.9 %

CarMax stock traded up $1.21 during trading hours on Wednesday, hitting $66.26. The company had a trading volume of 1,084,567 shares, compared to its average volume of 2,090,515. CarMax, Inc. has a fifty-two week low of $61.67 and a fifty-two week high of $91.25. 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 has a market capitalization of $10.12 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The firm's fifty day moving average is $75.69 and its 200-day moving average is $78.62.

Analysts Set New Price Targets

KMX has been the subject of several analyst reports. Evercore ISI cut their price target on CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. dropped their price target on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Royal Bank of Canada reaffirmed an "underperform" rating on shares of CarMax in a research note on Monday. Needham & Company LLC cut their target price 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. Finally, Robert W. Baird decreased their price target on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Four equities research 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $87.73.

Insider Transactions at CarMax

In other news, SVP Tyler Tuite sold 4,869 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now owns 227 shares in the company, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.66% of the stock is currently owned by corporate insiders.

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.