Cannell & Spears LLC Lowers Position in CarMax, Inc. (NYSE:KMX)

Cannell & Spears LLC reduced its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,646 shares of the company's stock after selling 4,166 shares during the period. Cannell & Spears LLC owned approximately 0.06% of CarMax worth $7,411,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. FSB Premier Wealth Management Inc. increased its stake in CarMax by 14.8% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 16,053 shares of the company's stock worth $1,312,000 after acquiring an additional 2,070 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of CarMax by 25.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,877 shares of the company's stock worth $726,000 after purchasing an additional 1,798 shares in the last quarter. Inkwell Capital LLC bought a new position in shares of CarMax in the fourth quarter worth approximately $3,829,000. Arrowstreet Capital Limited Partnership purchased a new stake in CarMax in the fourth quarter valued at approximately $18,710,000. Finally, Allstate Corp purchased a new stake in CarMax in the fourth quarter valued at approximately $379,000.

CarMax Trading Up 4.9 %

Shares of NYSE KMX traded up $3.83 during mid-day trading on Wednesday, hitting $82.71. The stock had a trading volume of 4,009,950 shares, compared to its average volume of 1,995,991. The business has a 50 day moving average price of $80.42 and a two-hundred day moving average price of $79.34. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The firm has a market cap of $12.72 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76.

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Insider Buying and Selling at CarMax

In related news, VP Jill A. Livesay sold 13,009 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares in the company, valued at $765,288. The trade was a 57.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares of the company's stock, valued at approximately $19,199.66. This trade represents a 95.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,709 shares of company stock worth $7,642,379. 1.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KMX. Needham & Company LLC increased their price target on shares of CarMax from $98.00 to $101.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Royal Bank of Canada upped their price objective on CarMax from $92.00 to $99.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Finally, Mizuho boosted their target price on CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $90.64.

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.