Sompo Asset Management Co. Ltd. lifted its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 86.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,776 shares of the company's stock after acquiring an additional 9,174 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in CarMax were worth $1,617,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of CarMax during the fourth quarter valued at about $423,187,000. Raymond James Financial Inc. purchased a new position in CarMax during the 4th quarter valued at approximately $31,061,000. Renaissance Technologies LLC raised its holdings in shares of CarMax by 108.6% during the 4th quarter. Renaissance Technologies LLC now owns 695,900 shares of the company's stock worth $56,897,000 after acquiring an additional 362,300 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CarMax by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock valued at $702,425,000 after acquiring an additional 282,519 shares during the last quarter. Finally, American Century Companies Inc. increased its position in CarMax by 25.3% in the fourth quarter. American Century Companies Inc. now owns 1,168,992 shares of the company's stock worth $95,577,000 after purchasing an additional 235,805 shares during the last quarter.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on KMX shares. Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a research report on Monday. Needham & Company LLC decreased their price target on CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Robert W. Baird reduced their price objective on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Evercore ISI reduced their price target 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. Finally, Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Four analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $87.73.
Check Out Our Latest Analysis on CarMax
CarMax Stock Performance
Shares of CarMax stock opened at $65.09 on Wednesday. CarMax, Inc. has a one year low of $61.67 and a one year high of $91.25. The company has a market capitalization of $9.94 billion, a PE ratio of 22.06, a P/E/G 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. The company has a 50-day simple moving average of $75.69 and a two-hundred day simple moving average of $78.62.
Insiders Place Their Bets
In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the 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 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.66% of the company's stock.
About CarMax
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Free Report)
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.
See Also
Want to see what other hedge funds are holding KMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CarMax, Inc. (NYSE:KMX - Free Report).
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