Korea Investment CORP Acquires 58,153 Shares of CarMax, Inc. (NYSE:KMX)

Korea Investment CORP raised its stake in CarMax, Inc. (NYSE:KMX) by 753.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,868 shares of the company’s stock after buying an additional 58,153 shares during the quarter. Korea Investment CORP’s holdings in CarMax were worth $5,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of CarMax by 4,844.4% during the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after acquiring an additional 436 shares during the period. Cromwell Holdings LLC increased its holdings in CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after purchasing an additional 217 shares in the last quarter. Allworth Financial LP raised its stake in shares of CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after purchasing an additional 249 shares during the period. ST Germain D J Co. Inc. acquired a new stake in shares of CarMax in the 4th quarter valued at about $58,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of CarMax by 91.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company’s stock worth $82,000 after buying an additional 480 shares in the last quarter.

Insider Transactions at CarMax

In other CarMax news, EVP Mohammad Shamim sold 12,845 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 11,738 shares in the company, valued at $961,811.72. This trade represents a 52.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the sale, the senior vice president now directly owns 227 shares of the company’s stock, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,709 shares of company stock worth $7,642,379. 1.66% of the stock is owned by insiders.

CarMax Trading Up 2.7 %

Shares of CarMax stock opened at $78.08 on Tuesday. 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 business has a fifty day simple moving average of $80.44 and a two-hundred day simple moving average of $79.34. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 1.67 and a beta of 1.76.

Analysts Set New Price Targets

KMX has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. 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. Finally, Royal Bank of Canada raised their price target on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Two equities 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.18.

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.