Franklin Resources Inc. grew its position in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 53.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,362 shares of the company’s stock after purchasing an additional 9,509 shares during the quarter. Franklin Resources Inc.’s holdings in CarMax were worth $1,999,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Quarry LP raised its position in shares of CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in CarMax in the 3rd quarter valued at about $32,000. True Wealth Design LLC raised its stake in CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after buying an additional 436 shares during the period. Studio Investment Management LLC raised its stake in CarMax by 176.7% during the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in CarMax by 91.9% in the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after acquiring an additional 353 shares in the last quarter.
CarMax Price Performance
Shares of NYSE KMX opened at $85.17 on Friday. The company has a 50 day simple moving average of $79.85 and a two-hundred day simple moving average of $78.03. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 1.74 and a beta of 1.71. CarMax, Inc. has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25.
Insider Buying and Selling
In other news, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $15,123,292.92. This trade represents a 39.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mohammad Shamim sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $83.77, for a total transaction of $837,700.00. Following the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $983,292.26. The trade was a 46.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,758 shares of company stock worth $13,420,065. 1.66% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on KMX shares. JPMorgan Chase & Co. upped their target price on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Truist Financial upped their price objective on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Stephens initiated coverage on shares of CarMax in a research note on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price target for the company. Finally, Mizuho upped their price target on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, CarMax currently has an average rating of “Hold” and a consensus price target of $85.17.
Check Out Our Latest Report on KMX
CarMax Company 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.
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