Nomura Asset Management Co. Ltd. Increases Stake in CarMax, Inc. (NYSE:KMX)

Nomura Asset Management Co. Ltd. raised its holdings in shares of CarMax, Inc. (NYSE:KMX) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,801 shares of the company’s stock after acquiring an additional 428 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in CarMax were worth $3,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. First Hawaiian Bank purchased a new position in CarMax during the fourth quarter valued at $273,000. Sequoia Financial Advisors LLC lifted its position in shares of CarMax by 10.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company’s stock valued at $261,000 after buying an additional 307 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of CarMax by 36.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company’s stock valued at $426,000 after acquiring an additional 1,396 shares during the period. World Investment Advisors LLC purchased a new stake in CarMax in the 3rd quarter worth approximately $6,942,000. Finally, HF Advisory Group LLC raised its stake in CarMax by 12.6% during the 4th quarter. HF Advisory Group LLC now owns 28,793 shares of the company’s stock worth $2,354,000 after acquiring an additional 3,222 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KMX. Mizuho increased their price objective on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their price target on CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Royal Bank of Canada lifted their price objective on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of CarMax in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, CarMax presently has a consensus rating of “Hold” and a consensus target price of $90.64.

Insiders Place Their Bets

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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Lyski sold 57,986 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $81.35, for a total transaction of $4,717,161.10. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 93,709 shares of company stock valued at $7,642,379 over the last 90 days. Insiders own 1.66% of the company’s stock.

CarMax Price Performance

CarMax stock opened at $78.74 on Wednesday. CarMax, Inc. has a 12-month low of $65.83 and a 12-month 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 firm has a 50-day moving average price of $80.42 and a 200-day moving average price of $79.34. The firm has a market capitalization of $12.11 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76.

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.