Intech Investment Management LLC Buys 8,418 Shares of CarMax, Inc. (NYSE:KMX)

Intech Investment Management LLC boosted its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 246.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,836 shares of the company's stock after acquiring an additional 8,418 shares during the period. Intech Investment Management LLC's holdings in CarMax were worth $968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lakewood Asset Management LLC increased its position in shares of CarMax by 0.6% in the fourth quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company's stock worth $1,778,000 after purchasing an additional 135 shares during the period. Arete Wealth Advisors LLC grew its stake in CarMax by 4.3% during the third quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company's stock worth $266,000 after buying an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in CarMax by 3.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company's stock valued at $383,000 after buying an additional 141 shares during the period. Timber Creek Capital Management LLC raised its position in shares of CarMax by 0.3% in the 4th quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company's stock valued at $4,709,000 after buying an additional 145 shares in the last quarter. Finally, Chemistry Wealth Management LLC lifted its holdings in shares of CarMax by 1.4% during the 4th quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company's stock worth $999,000 after acquiring an additional 164 shares during the period.

Remove Ads

Analyst Ratings Changes

KMX has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on CarMax from $70.00 to $72.00 and gave the company an "underweight" rating in a research note on Friday, December 20th. Needham & Company LLC raised their price target on shares of CarMax from $98.00 to $101.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Evercore ISI lowered their price objective on shares of CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Truist Financial raised their target price on shares of CarMax from $72.00 to $88.00 and gave the company a "hold" rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded shares of CarMax from a "sell" rating to a "hold" rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CarMax currently has an average rating of "Hold" and an average target price of $90.45.

CarMax Trading Up 1.0 %

NYSE:KMX traded up $0.76 on Tuesday, reaching $74.30. 1,967,395 shares of the stock traded hands, compared to its average volume of 1,907,686. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. CarMax, Inc. has a 1-year low of $65.83 and a 1-year high of $91.25. 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's 50 day moving average is $80.67 and its 200-day moving average is $79.37.

Insider Transactions at CarMax

In other news, SVP Tyler Tuite sold 4,869 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares of the company's stock, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Lyski sold 57,986 shares of CarMax stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $81.35, for a total value of $4,717,161.10. Following the completion of the sale, the executive vice president now owns 22,803 shares of the company's stock, valued at approximately $1,855,024.05. The trade was a 71.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,709 shares of company stock worth $8,495,379 over the last three months. 1.66% of the stock is owned by company insiders.

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.