CarMax, Inc. (NYSE:KMX) is Silver Heights Capital Management Inc’s 3rd Largest Position

Silver Heights Capital Management Inc trimmed its position in shares of CarMax, Inc. (NYSE:KMX) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 565,597 shares of the company’s stock after selling 1,844 shares during the quarter. CarMax accounts for about 20.6% of Silver Heights Capital Management Inc’s holdings, making the stock its 3rd largest holding. Silver Heights Capital Management Inc’s holdings in CarMax were worth $46,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of KMX. Norges Bank bought a new position in CarMax during the fourth quarter valued at approximately $423,187,000. Raymond James Financial Inc. purchased a new stake in shares of CarMax in the 4th quarter valued at $31,061,000. Principal Financial Group Inc. grew its holdings in shares of 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 purchasing an additional 282,519 shares during the last quarter. American Century Companies Inc. raised its position in 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 purchasing an additional 235,805 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in CarMax in the fourth quarter worth $18,710,000.

CarMax Stock Down 1.0 %

Shares of NYSE KMX opened at $75.66 on Friday. The firm has a fifty day simple moving average of $80.26 and a two-hundred day simple moving average of $79.32. 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 market capitalization of $11.64 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76.

Analysts Set New Price Targets

KMX has been the topic of a number of recent research reports. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price target on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada boosted their price objective on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Needham & Company LLC raised their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial lifted their target price 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 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 MarketBeat, CarMax presently has a consensus rating of “Hold” and an average target price of $90.64.

Insider Activity at CarMax

In other CarMax news, EVP Mohammad Shamim sold 12,845 shares of the company’s stock in a transaction that occurred 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 approximately $961,811.72. This represents a 52.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at $1,649,771.80. This represents a 19.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,723 shares of company stock worth $2,925,218 over the last 90 days. 1.66% of the stock is owned by company insiders.

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.