KLP Kapitalforvaltning AS Takes Position in CarMax, Inc. (NYSE:KMX)

KLP Kapitalforvaltning AS purchased a new position in shares of CarMax, Inc. (NYSE:KMX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 58,356 shares of the company’s stock, valued at approximately $4,771,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of CarMax by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after buying an additional 282,519 shares during the period. State Street Corp lifted its position in CarMax by 0.6% during the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock worth $479,228,000 after acquiring an additional 36,959 shares during the period. Janus Henderson Group PLC grew its stake 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 valued at $359,216,000 after purchasing an additional 28,466 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CarMax by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after purchasing an additional 14,903 shares during the period. Finally, First Pacific Advisors LP raised its stake in shares of CarMax by 0.6% during the fourth quarter. First Pacific Advisors LP now owns 2,397,062 shares of the company’s stock worth $195,984,000 after purchasing an additional 13,487 shares during the last quarter.

CarMax Stock Performance

NYSE KMX opened at $74.30 on Wednesday. The business has a 50 day moving average price of $80.67 and a 200 day moving average price of $79.37. The company has a market capitalization of $11.43 billion, a P/E ratio of 25.19, a PEG ratio of 1.67 and a beta of 1.76. CarMax, Inc. has a 1-year low of $65.83 and a 1-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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KMX shares. Mizuho lifted their price objective on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their target price on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Royal Bank of Canada increased their price target on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Stephens initiated coverage on shares of CarMax in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price objective for the company. Finally, Evercore ISI dropped their target price on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, CarMax presently has an average rating of “Hold” and a consensus target price of $90.45.

Insider Activity

In other news, EVP James Lyski sold 57,986 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $81.35, for a total value of $4,717,161.10. Following the sale, the executive vice president now directly owns 22,803 shares in the company, valued at $1,855,024.05. This represents a 71.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jon G. Daniels sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $85.30, for a total transaction of $853,000.00. Following the transaction, the senior vice president now directly owns 995 shares of the company’s stock, valued at approximately $84,873.50. This trade represents a 90.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,709 shares of company stock worth $8,495,379 over the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

CarMax Profile

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.