KLP Kapitalforvaltning AS Makes New Investment in CarMax, Inc. (NYSE:KMX)

KLP Kapitalforvaltning AS purchased a new stake in CarMax, Inc. (NYSE:KMX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 58,356 shares of the company’s stock, valued at approximately $4,771,000.

Several other large investors have also recently made changes to their positions in KMX. Quest Partners LLC acquired a new position in CarMax during the third quarter worth $350,000. Charles Schwab Investment Management Inc. lifted its stake in 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 acquiring an additional 436,342 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in CarMax by 26.3% during the 3rd quarter. Raymond James Trust N.A. now owns 10,056 shares of the company’s stock valued at $778,000 after acquiring an additional 2,097 shares during the period. Citigroup Inc. grew its position in CarMax by 2.6% in the 3rd quarter. Citigroup Inc. now owns 149,448 shares of the company’s stock valued at $11,564,000 after acquiring an additional 3,738 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in CarMax by 128.0% during the third quarter. Cerity Partners LLC now owns 38,353 shares of the company’s stock worth $2,968,000 after purchasing an additional 21,528 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KMX. Truist Financial raised their price objective on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Stephens initiated coverage on shares of CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target for the company. Mizuho increased their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Needham & Company LLC boosted their target price on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their price target on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, CarMax has a consensus rating of “Hold” and a consensus target price of $90.45.

CarMax Price Performance

Shares of NYSE KMX opened at $74.30 on Wednesday. The stock’s 50-day simple moving average is $80.67 and its 200-day simple moving average is $79.37. The firm has a market capitalization of $11.43 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. CarMax, Inc. has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30.

Insider Buying and Selling at CarMax

In related news, SVP Jon G. Daniels sold 10,000 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $85.30, for a total value of $853,000.00. Following the transaction, the senior vice president now directly owns 995 shares of the company’s stock, valued at $84,873.50. This trade represents a 90.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of CarMax stock in a transaction on 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 sale, the vice president now owns 9,448 shares in the company, valued at $765,288. This represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,709 shares of company stock worth $8,495,379 over the last three months. Insiders own 1.66% of the company’s stock.

CarMax Company 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.