CANADA LIFE ASSURANCE Co Sells 67,414 Shares of CarMax, Inc. (NYSE:KMX)

CANADA LIFE ASSURANCE Co lessened its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 42.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,547 shares of the company's stock after selling 67,414 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.06% of CarMax worth $7,477,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in CarMax during the 3rd quarter worth $1,587,000. World Investment Advisors LLC bought a new position in shares of CarMax during the third quarter valued at about $6,942,000. Wilmington Savings Fund Society FSB purchased a new position in CarMax during the third quarter worth about $351,000. Tidal Investments LLC grew its position in CarMax by 141.8% in the 3rd 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 in the last quarter. Finally, Franklin Resources Inc. increased its stake 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 buying an additional 9,509 shares during the last quarter.

CarMax Stock Up 4.4 %

KMX opened at $65.09 on Wednesday. CarMax, Inc. has a 12 month low of $61.67 and a 12 month high of $91.25. The company has a market cap of $9.94 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The company has a 50 day moving average of $75.69 and a 200 day moving average of $78.62.

Wall Street Analyst Weigh In

KMX has been the topic of a number of research analyst reports. Needham & Company LLC cut their target price on CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a research note on Monday. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price target 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. Finally, Cfra Research raised shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CarMax presently has an average 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 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. Corporate insiders own 1.66% of the company's stock.

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.

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