CarMax, Inc. (NYSE:KMX) Stake Boosted by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of CarMax, Inc. (NYSE:KMX) by 41.5% during the fourth quarter, Holdings Channel reports. The fund owned 8,021 shares of the company’s stock after acquiring an additional 2,353 shares during the quarter. HighTower Advisors LLC’s holdings in CarMax were worth $656,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. True Wealth Design LLC lifted its holdings in shares of CarMax by 4,844.4% in the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after purchasing an additional 436 shares in the last quarter. Cromwell Holdings LLC increased its holdings in shares of CarMax by 104.8% in the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares during the period. Allworth Financial LP lifted its position in shares of CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after purchasing an additional 249 shares in the last quarter. Larson Financial Group LLC lifted its position in CarMax by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after buying an additional 353 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of CarMax during the 4th quarter valued at $58,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KMX shares. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $86.00 to $90.00 in a research note on Wednesday. Mizuho increased their target price on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Royal Bank of Canada raised their target price on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.18.

Insider Activity

In other news, EVP James Lyski sold 57,986 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $81.35, for a total value of $4,717,161.10. Following the completion of the sale, the executive vice president now directly owns 22,803 shares in the company, valued at approximately $1,855,024.05. This trade represents a 71.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mohammad Shamim sold 12,845 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $81.94, for a total transaction of $1,052,519.30. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $961,811.72. This represents a 52.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,709 shares of company stock worth $7,642,379. Corporate insiders own 1.66% of the company’s stock.

CarMax Price Performance

Shares of KMX stock opened at $75.92 on Friday. 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’s fifty day simple moving average is $80.45 and its 200 day simple moving average is $79.29. CarMax, Inc. has a one year low of $65.83 and a one year high of $91.25. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 1.67 and a beta of 1.76.

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.