Prudential Financial Inc. Sells 89,853 Shares of CarMax, Inc. (NYSE:KMX)

Prudential Financial Inc. trimmed its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 51.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,720 shares of the company's stock after selling 89,853 shares during the period. Prudential Financial Inc. owned about 0.06% of CarMax worth $7,008,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in CarMax by 3.4% in the fourth 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. State Street Corp raised its holdings in CarMax by 0.6% in the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company's stock worth $479,228,000 after purchasing an additional 36,959 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of CarMax by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company's stock worth $359,216,000 after purchasing an additional 28,466 shares during the period. Geode Capital Management LLC increased its position in shares of CarMax by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company's stock valued at $282,479,000 after buying an additional 14,903 shares during the period. Finally, First Pacific Advisors LP lifted its holdings in CarMax by 0.6% in the fourth quarter. First Pacific Advisors LP now owns 2,397,062 shares of the company's stock worth $195,984,000 after buying an additional 13,487 shares during the period.

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CarMax Stock Up 4.9 %

KMX stock traded up $3.83 during midday trading on Wednesday, hitting $82.71. The company's stock had a trading volume of 4,009,940 shares, compared to its average volume of 1,995,972. The company has a market cap of $12.72 billion, a PE ratio of 28.04, a P/E/G ratio of 1.67 and a beta of 1.76. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The firm's 50-day moving average is $80.42 and its 200-day moving average is $79.34.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KMX shares. Mizuho increased their target price on CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. StockNews.com raised shares of CarMax from a "sell" rating to a "hold" rating in a research report on Friday, December 20th. Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of CarMax in a research report on Tuesday. Finally, Evercore ISI dropped their price objective on shares of CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, CarMax has a consensus rating of "Hold" and an average target price of $90.64.

Insiders Place Their Bets

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the firm'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 approximately $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jill A. Livesay sold 13,009 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the sale, the vice president now owns 9,448 shares of the company's stock, valued at approximately $765,288. This represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,709 shares of company stock valued at $7,642,379. 1.66% of the stock is owned by 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.