Norges Bank Invests $423.19 Million in CarMax, Inc. (NYSE:KMX)

Norges Bank acquired a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,175,962 shares of the company's stock, valued at approximately $423,187,000. Norges Bank owned approximately 3.37% of CarMax as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Citigroup Inc. increased its stake in CarMax by 2.6% in the 3rd quarter. Citigroup Inc. now owns 149,448 shares of the company's stock worth $11,564,000 after purchasing an additional 3,738 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of CarMax by 128.0% in the third quarter. Cerity Partners LLC now owns 38,353 shares of the company's stock worth $2,968,000 after buying an additional 21,528 shares during the period. Larson Financial Group LLC increased its position in shares of CarMax by 91.9% in the third quarter. Larson Financial Group LLC now owns 737 shares of the company's stock worth $57,000 after acquiring an additional 353 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of CarMax by 7.4% during the third quarter. Daiwa Securities Group Inc. now owns 27,036 shares of the company's stock valued at $2,092,000 after acquiring an additional 1,871 shares during the period. Finally, FMR LLC lifted its position in shares of CarMax by 2,883.1% in the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company's stock valued at $137,180,000 after acquiring an additional 1,713,379 shares in the last quarter.

CarMax Stock Up 3.7 %

Shares of CarMax stock traded up $2.89 during midday trading on Wednesday, reaching $81.77. 1,590,200 shares of the company's stock traded hands, compared to its average volume of 1,986,753. The company has a market cap of $12.58 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. CarMax, Inc. has a 52 week low of $65.83 and a 52 week high of $91.25. The company's 50 day simple moving average is $80.42 and its 200 day simple moving average is $79.34. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC boosted their target price 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. StockNews.com raised CarMax from a "sell" rating to a "hold" rating in a research report on Friday, December 20th. Evercore ISI decreased their price objective on CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada lifted their target price on CarMax from $92.00 to $99.00 and gave the company an "overweight" rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $90.64.

Insider Buying and Selling at CarMax

In related news, CFO Enrique N. Mayor-Mora sold 5,000 shares of CarMax stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the transaction, the chief financial officer now owns 20,260 shares in the company, valued at $1,649,771.80. This trade represents a 19.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tyler Tuite sold 4,869 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares of the company's stock, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,709 shares of company stock worth $7,642,379 over the last three months. Corporate insiders own 1.66% of the company's stock.

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.