Wells Fargo & Company MN Sells 89,229 Shares of CarMax, Inc. (NYSE:KMX)

Wells Fargo & Company MN cut its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 469,960 shares of the company's stock after selling 89,229 shares during the period. Wells Fargo & Company MN owned approximately 0.31% of CarMax worth $38,424,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Cromwell Holdings LLC boosted its holdings in shares of CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock valued at $35,000 after acquiring an additional 217 shares during the last quarter. Allworth Financial LP grew its position in CarMax by 62.7% in the 4th 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. ST Germain D J Co. Inc. bought a new stake in CarMax in the 4th quarter worth approximately $58,000. Farther Finance Advisors LLC raised its stake in CarMax by 91.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company's stock valued at $82,000 after buying an additional 480 shares during the last quarter. Finally, BankPlus Trust Department bought a new position in shares of CarMax during the 4th quarter valued at $85,000.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird reduced their price objective on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Cfra Research raised shares of CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Evercore ISI reduced their target price on shares of CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. StockNews.com cut CarMax from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Finally, Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $87.73.

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CarMax Price Performance

Shares of NYSE KMX traded down $1.74 during midday trading on Wednesday, reaching $65.99. 560,317 shares of the stock traded hands, compared to its average volume of 2,507,207. The company's 50 day moving average is $77.90 and its 200 day moving average is $79.02. CarMax, Inc. has a one year low of $63.22 and a one year high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The stock has a market capitalization of $10.08 billion, a PE ratio of 22.37, a P/E/G ratio of 1.67 and a beta of 1.58.

Insider Activity at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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.