Vulcan Value Partners LLC Sells 108,559 Shares of CarMax, Inc. (NYSE:KMX)

Vulcan Value Partners LLC reduced its position in CarMax, Inc. (NYSE:KMX - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,327,037 shares of the company's stock after selling 108,559 shares during the period. CarMax comprises approximately 1.8% of Vulcan Value Partners LLC's holdings, making the stock its 17th largest position. Vulcan Value Partners LLC owned approximately 0.86% of CarMax worth $108,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of CarMax by 3.4% during 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 during the last quarter. Kovitz Investment Group Partners LLC grew its position in CarMax by 348.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after purchasing an additional 5,122,850 shares during the period. Norges Bank purchased a new stake in CarMax during the 4th quarter valued at $423,187,000. Geode Capital Management LLC lifted its holdings in shares of CarMax by 1.3% during the 4th 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 period. Finally, Invesco Ltd. boosted its stake 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 buying an additional 27,716 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective 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 report on Monday, April 21st. Needham & Company LLC dropped their price objective on shares of CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. 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 report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $87.73.

Insider Buying and Selling

In other CarMax news, Director Mitchell D. Steenrod purchased 1,300 shares of the company's stock in a transaction on Thursday, April 24th. The stock was acquired at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the purchase, the director now directly owns 33,577 shares of the company's stock, valued at $2,198,957.73. This trade represents a 4.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.66% of the stock is currently owned by company insiders.

CarMax Price Performance

KMX stock traded down $0.33 during trading on Tuesday, reaching $64.78. The company's stock had a trading volume of 2,785,876 shares, compared to its average volume of 2,099,680. The company's fifty day moving average is $73.41 and its 200-day moving average is $78.40. CarMax, Inc. has a 1 year low of $61.67 and a 1 year high of $91.25. The company has a market capitalization of $9.89 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

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.