Norges Bank Purchases Shares of 5,175,962 CarMax, Inc. (NYSE:KMX)

Norges Bank purchased a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,175,962 shares of the company's stock, valued at approximately $423,187,000. Norges Bank owned about 3.37% of CarMax as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KMX. True Wealth Design LLC raised its position in CarMax by 4,844.4% during the third quarter. True Wealth Design LLC now owns 445 shares of the company's stock worth $34,000 after acquiring an additional 436 shares in the last quarter. Cromwell Holdings LLC raised its holdings in shares of CarMax by 104.8% in the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock valued at $35,000 after purchasing an additional 217 shares during the period. Allworth Financial LP grew its holdings in CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock worth $51,000 after purchasing an additional 249 shares during the period. Larson Financial Group LLC increased its position in CarMax by 91.9% during the third quarter. Larson Financial Group LLC now owns 737 shares of the company's stock worth $57,000 after buying an additional 353 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new position in CarMax during the fourth quarter worth approximately $58,000.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wedbush reiterated an "outperform" rating and set a $100.00 target price on shares of CarMax in a research note on Tuesday. StockNews.com raised shares of CarMax from a "sell" rating to a "hold" rating in a research report on Friday, December 20th. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. Royal Bank of Canada increased their price target on shares of CarMax from $92.00 to $99.00 and gave the company an "overweight" rating in a report on Thursday, December 19th. Finally, Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $90.64.

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CarMax Price Performance

KMX traded up $0.75 during trading on Tuesday, hitting $78.67. 2,813,333 shares of the stock traded hands, compared to its average volume of 1,913,285. The business has a 50 day moving average price of $80.44 and a 200 day moving average price of $79.34. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.67 and a beta of 1.76.

Insider Activity at CarMax

In other news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total value of $407,150.00. Following the completion of the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Lyski sold 57,986 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 22,803 shares in the company, valued at $1,855,024.05. This represents a 71.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,709 shares of company stock valued at $7,642,379 over the last ninety days. 1.66% of the stock is owned by corporate insiders.

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.