Norges Bank Purchases Shares of 5,175,962 CarMax, Inc. (NYSE:KMX)

Norges Bank acquired a new position in shares of CarMax, Inc. (NYSE:KMX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,175,962 shares of the company’s stock, valued at approximately $423,187,000. Norges Bank owned 3.37% of CarMax at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KMX. FMR LLC grew its stake in shares of CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Holocene Advisors LP lifted its holdings in CarMax by 740.2% in the third quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock worth $73,274,000 after purchasing an additional 834,232 shares during the period. Raymond James Financial Inc. bought a new position in CarMax in the 4th quarter valued at about $31,061,000. Principal Financial Group Inc. increased its stake in 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 buying an additional 282,519 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of CarMax by 25.3% in the 4th quarter. American Century Companies Inc. now owns 1,168,992 shares of the company’s stock worth $95,577,000 after acquiring an additional 235,805 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently commented on KMX shares. Evercore ISI dropped their target price on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. cut their price objective on CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday. Needham & Company LLC lifted their target price on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $86.00 to $90.00 in a report on Wednesday. Finally, Truist Financial lifted their price objective on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CarMax presently has an average rating of “Hold” and an average price target of $90.18.

CarMax Stock Performance

Shares of KMX stock opened at $75.92 on Friday. The company has a market capitalization 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. CarMax, Inc. has a 1-year low of $65.83 and a 1-year high of $91.25. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The stock’s fifty day simple moving average is $80.45 and its 200-day simple moving average is $79.29.

Insider Buying and Selling at CarMax

In other news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the chief financial officer now owns 20,260 shares of the company’s stock, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,709 shares of company stock valued at $7,642,379 in 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.