Raymond James Financial Inc. Takes Position in CarMax, Inc. (NYSE:KMX)

Raymond James Financial Inc. acquired a new position in CarMax, Inc. (NYSE:KMX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 379,899 shares of the company's stock, valued at approximately $31,061,000. Raymond James Financial Inc. owned approximately 0.25% of CarMax at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in KMX. Lakewood Asset Management LLC increased its holdings in 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 in the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of CarMax by 3.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company's stock worth $383,000 after buying an additional 141 shares during the period. Timber Creek Capital Management LLC increased its stake 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 acquiring an additional 145 shares in the last quarter. Chemistry Wealth Management LLC lifted its position 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 valued at $999,000 after acquiring an additional 164 shares during the period. Finally, Cypress Wealth Services LLC boosted its stake in CarMax by 5.2% during the fourth quarter. Cypress Wealth Services LLC now owns 3,614 shares of the company's stock worth $295,000 after acquiring an additional 179 shares in the last quarter.

CarMax Stock Up 4.4 %

Shares of KMX stock traded up $2.76 on Tuesday, hitting $65.09. The stock had a trading volume of 3,055,280 shares, compared to its average volume of 2,094,282. CarMax, Inc. has a 12-month low of $61.67 and a 12-month high of $91.25. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The business has a 50 day moving average of $75.69 and a 200 day moving average of $78.62. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

Analysts Set New Price Targets

KMX has been the subject of several research analyst reports. Needham & Company LLC decreased their price target on shares of CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Evercore ISI cut their price target on CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of CarMax in a report on Monday. Finally, StockNews.com lowered CarMax from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $87.73.

Insider Buying and Selling at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the transaction, the senior vice president now owns 227 shares in the company, valued at $19,199.66. This represents a 95.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.