Summitry LLC Sells 781,625 Shares of CarMax, Inc. (NYSE:KMX)

Summitry LLC lowered its holdings in shares of CarMax, Inc. (NYSE:KMX) by 97.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,036 shares of the company’s stock after selling 781,625 shares during the period. Summitry LLC’s holdings in CarMax were worth $1,393,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its stake in shares of CarMax by 2,883.1% in the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after acquiring an additional 1,713,379 shares in the last quarter. Holocene Advisors LP grew 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. Charles Schwab Investment Management Inc. boosted its position in shares of CarMax by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after purchasing an additional 436,342 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CarMax in the 4th quarter valued at about $31,061,000. Finally, Principal Financial Group Inc. increased its position in CarMax by 3.4% in 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 in the last quarter.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. 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 price objective on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Mizuho boosted 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. Truist Financial raised their price target on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Finally, Stephens initiated coverage on CarMax in a research report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, CarMax presently has a consensus rating of “Hold” and an average target price of $90.45.

Insider Buying and Selling

In related news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares of the company’s stock, valued at $765,288. This represents a 57.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,709 shares of company stock valued at $8,495,379. 1.66% of the stock is owned by company insiders.

CarMax Stock Up 1.0 %

KMX opened at $74.30 on Wednesday. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25. The company’s 50-day moving average price is $80.67 and its two-hundred day moving average price is $79.37. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.67 and a beta of 1.76. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

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.