CarMax, Inc. (NYSE:KMX) is Rings Capital Management LLC's 2nd Largest Position

Rings Capital Management LLC increased its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 501,790 shares of the company's stock after purchasing an additional 23,790 shares during the period. CarMax makes up about 21.4% of Rings Capital Management LLC's holdings, making the stock its 2nd biggest position. Rings Capital Management LLC owned 0.33% of CarMax worth $41,026,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of CarMax by 85.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,862 shares of the company's stock worth $970,000 after purchasing an additional 5,480 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in CarMax by 0.9% in the fourth quarter. MetLife Investment Management LLC now owns 41,475 shares of the company's stock worth $3,391,000 after acquiring an additional 375 shares in the last quarter. Norinchukin Bank The grew its stake in CarMax by 7.3% in the fourth quarter. Norinchukin Bank The now owns 6,870 shares of the company's stock valued at $562,000 after acquiring an additional 466 shares during the period. First Trust Advisors LP increased its holdings in shares of CarMax by 5.9% during the fourth quarter. First Trust Advisors LP now owns 70,652 shares of the company's stock valued at $5,777,000 after acquiring an additional 3,916 shares in the last quarter. Finally, Forum Financial Management LP raised its position in shares of CarMax by 15.2% during the fourth quarter. Forum Financial Management LP now owns 3,878 shares of the company's stock worth $317,000 after purchasing an additional 512 shares during the period.

CarMax Stock Performance

KMX traded down $0.64 during trading on Friday, hitting $65.04. 2,155,346 shares of the company traded hands, compared to its average volume of 2,096,420. CarMax, Inc. has a one year low of $61.67 and a one year high of $91.25. The stock's fifty day moving average is $74.76 and its 200 day moving average is $78.49. 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 firm has a market cap of $9.93 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58.

Insider Transactions at CarMax

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on KMX. Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a research note on Monday. Robert W. Baird lowered their target price on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Needham & Company LLC cut their price target on CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Cfra Research raised CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Finally, Evercore ISI dropped their target price on CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $87.73.

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.