JPMorgan Chase & Co. Sells 219,286 Shares of CarMax, Inc. (NYSE:KMX)

JPMorgan Chase & Co. reduced its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 47.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,342 shares of the company's stock after selling 219,286 shares during the quarter. JPMorgan Chase & Co. owned 0.16% of CarMax worth $19,896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Hawaiian Bank acquired a new position in shares of CarMax during the 4th quarter worth about $273,000. Sequoia Financial Advisors LLC grew its stake in CarMax by 10.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after purchasing an additional 307 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of CarMax by 36.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock worth $426,000 after purchasing an additional 1,396 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of CarMax during the 3rd quarter worth approximately $6,942,000. Finally, HF Advisory Group LLC boosted its holdings in shares of CarMax by 12.6% in the 4th quarter. HF Advisory Group LLC now owns 28,793 shares of the company's stock valued at $2,354,000 after buying an additional 3,222 shares during the last quarter.

Insiders Place Their Bets

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were 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 directly owns 227 shares in the company, valued at approximately $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.66% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. StockNews.com cut CarMax from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Wedbush dropped their price objective on CarMax from $100.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price objective on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Finally, Needham & Company LLC dropped their price target on CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $87.73.

CarMax Trading Down 2.1 %

Shares of NYSE:KMX traded down $1.42 during mid-day trading on Wednesday, reaching $66.31. 294,905 shares of the company's stock were exchanged, compared to its average volume of 2,076,635. The business's fifty day moving average price is $77.90 and its 200-day moving average price is $79.02. CarMax, Inc. has a twelve month low of $63.23 and a twelve month high of $91.25. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 22.47, a PEG 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 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.