Cannell & Spears LLC Sells 4,166 Shares of CarMax, Inc. (NYSE:KMX)

Cannell & Spears LLC cut its holdings in CarMax, Inc. (NYSE:KMX) by 4.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 90,646 shares of the company’s stock after selling 4,166 shares during the period. Cannell & Spears LLC’s holdings in CarMax were worth $7,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of 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 acquiring an additional 282,519 shares in the last quarter. State Street Corp boosted its holdings in CarMax by 0.6% during the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after acquiring an additional 36,959 shares during the period. Norges Bank bought a new position in shares of CarMax in the fourth quarter worth approximately $423,187,000. Janus Henderson Group PLC increased its stake in shares of CarMax by 0.6% during the third quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock valued at $359,216,000 after buying an additional 28,466 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of CarMax by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after purchasing an additional 14,903 shares in the last quarter.

Insider Activity at CarMax

In other CarMax 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 value of $411,820.02. Following the transaction, the senior vice president now owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the completion of the sale, the vice president now owns 9,448 shares of the company’s stock, valued at $765,288. This trade represents a 57.93 % 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 worth $7,642,379 in the last three months. Insiders own 1.66% of the company’s stock.

CarMax Trading Down 1.3 %

KMX opened at $75.92 on Monday. The business’s 50 day moving average is $80.45 and its two-hundred day moving average is $79.33. CarMax, Inc. has a 52 week low of $65.83 and a 52 week high of $91.25. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. StockNews.com raised CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. JPMorgan Chase & Co. cut their target price on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday. Mizuho lifted their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada raised their target price 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, CarMax currently has an average rating of “Hold” and a consensus price target of $90.18.

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.