Kovitz Investment Group Partners LLC Purchases 5,122,850 Shares of CarMax, Inc. (NYSE:KMX)

Kovitz Investment Group Partners LLC grew its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 348.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,595,067 shares of the company's stock after buying an additional 5,122,850 shares during the period. CarMax makes up 1.8% of Kovitz Investment Group Partners LLC's portfolio, making the stock its 18th biggest position. Kovitz Investment Group Partners LLC owned approximately 4.29% of CarMax worth $539,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of CarMax during the third quarter worth about $1,587,000. World Investment Advisors LLC bought a new stake in shares of CarMax during the 3rd quarter worth about $6,942,000. Wilmington Savings Fund Society FSB acquired a new position in CarMax in the 3rd quarter valued at $351,000. Tidal Investments LLC increased its holdings in shares of CarMax by 141.8% during the third quarter. Tidal Investments LLC now owns 13,019 shares of the company's stock worth $1,007,000 after purchasing an additional 7,635 shares during the period. Finally, Franklin Resources Inc. raised its holdings in CarMax by 53.3% in the 3rd quarter. Franklin Resources Inc. now owns 27,362 shares of the company's stock valued at $1,999,000 after acquiring an additional 9,509 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have issued reports on KMX. Evercore ISI decreased 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. StockNews.com downgraded CarMax from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Robert W. Baird cut their price target on CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. Finally, Wedbush reiterated an "outperform" rating and issued a $90.00 target price on shares of CarMax in a report on Monday, April 21st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CarMax presently has an average rating of "Hold" and a consensus target price of $87.73.

Insider Transactions at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the transaction, the senior vice president now owns 227 shares of the company's stock, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mitchell D. Steenrod bought 1,300 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the acquisition, the director now directly owns 33,577 shares in the company, valued at $2,198,957.73. This trade represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.66% of the company's stock.

CarMax Stock Performance

KMX traded down $0.64 during trading hours on Friday, hitting $65.04. The stock had a trading volume of 2,155,346 shares, compared to its average volume of 2,091,434. The stock has a market cap of $9.93 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. CarMax, Inc. has a 1 year low of $61.67 and a 1 year high of $91.25. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The company's fifty day simple moving average is $74.28 and its 200 day simple moving average is $78.54.

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.