Bayesian Capital Management LP Increases Stock Holdings in CarMax, Inc. (NYSE:KMX)

Bayesian Capital Management LP increased its holdings in CarMax, Inc. (NYSE:KMX) by 263.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,000 shares of the company’s stock after buying an additional 35,500 shares during the period. Bayesian Capital Management LP’s holdings in CarMax were worth $4,006,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position 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 during the last quarter. Kovitz Investment Group Partners LLC increased its position in CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after buying an additional 5,122,850 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 CarMax by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock worth $302,564,000 after purchasing an additional 47,058 shares in the last quarter. Finally, Invesco Ltd. raised its stake in CarMax by 1.0% in the 4th quarter. Invesco Ltd. now owns 2,729,965 shares of the company’s stock valued at $223,202,000 after purchasing an additional 27,716 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of CarMax in a research note on Monday, April 21st. Royal Bank of Canada reissued an “underperform” rating on shares of CarMax in a research note on Monday, April 21st. Finally, Cfra Research raised shares of CarMax to a “strong-buy” rating in a research note on Thursday, April 10th. Four analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.73.

CarMax Price Performance

KMX stock opened at $66.63 on Friday. The firm has a market cap of $10.17 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. 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 1 year low of $61.67 and a 1 year high of $91.25. The stock has a 50-day simple moving average of $72.39 and a 200-day simple moving average of $78.22.

Insider Buying and Selling at CarMax

In other CarMax news, Director Mitchell D. Steenrod bought 1,300 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $65.49 per share, with a total value of $85,137.00. Following the transaction, the director now directly owns 33,577 shares in the company, 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 can be accessed through this link. 1.66% of the stock is 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.