CarMax, Inc. (NYSE:KMX) Position Lowered by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 38.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 676,760 shares of the company's stock after selling 414,652 shares during the quarter. Legal & General Group Plc owned approximately 0.44% of CarMax worth $55,332,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in CarMax in the 4th quarter valued at about $423,187,000. Raymond James Financial Inc. acquired a new stake in CarMax during the fourth quarter worth approximately $31,061,000. Principal Financial Group Inc. grew its stake in CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock worth $702,425,000 after acquiring an additional 282,519 shares during the period. American Century Companies Inc. raised its holdings in CarMax by 25.3% in the 4th quarter. American Century Companies Inc. now owns 1,168,992 shares of the company's stock valued at $95,577,000 after acquiring an additional 235,805 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of CarMax during the 4th quarter worth $18,710,000.

CarMax Stock Up 0.2 %

Shares of KMX traded up $0.15 during midday trading on Tuesday, reaching $67.65. 3,096,487 shares of the company were exchanged, compared to its average volume of 2,089,613. CarMax, Inc. has a 1-year low of $63.23 and a 1-year high of $91.25. The stock has a 50-day moving average price of $78.28 and a 200-day moving average price of $79.10. 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 market cap of $10.40 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 1.67 and a beta of 1.58.

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Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Needham & Company LLC reduced their target price on CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday. Wedbush cut their price objective on shares of CarMax from $100.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday. Truist Financial boosted their target price on shares of CarMax from $72.00 to $88.00 and gave the company a "hold" rating in a report on Friday, December 20th. StockNews.com lowered shares of CarMax from a "hold" rating to a "sell" rating in a report on Friday. Finally, Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $87.73.

Insider Buying and Selling

In related news, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now owns 227 shares of the company's stock, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of CarMax stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total value of $1,053,729.00. Following the sale, the vice president now directly owns 9,448 shares in the company, valued at approximately $765,288. The trade was a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,878 shares of company stock valued at $1,872,699. Corporate insiders own 1.66% of the company's stock.

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.