Korea Investment CORP Has $5.39 Million Position in CarMax, Inc. (NYSE:KMX)

Korea Investment CORP raised its stake in CarMax, Inc. (NYSE:KMX) by 753.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,868 shares of the company’s stock after acquiring an additional 58,153 shares during the period. Korea Investment CORP’s holdings in CarMax were worth $5,385,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of KMX. First Hawaiian Bank bought a new stake in CarMax during the fourth quarter worth about $273,000. Sequoia Financial Advisors LLC lifted its holdings 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 worth $261,000 after acquiring an additional 307 shares during the period. Jones Financial Companies Lllp boosted its position 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 worth $426,000 after acquiring an additional 1,396 shares in the last quarter. World Investment Advisors LLC bought a new position in CarMax in the third quarter valued at approximately $6,942,000. Finally, HF Advisory Group LLC raised its position in CarMax by 12.6% during the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company’s stock valued at $2,354,000 after purchasing an additional 3,222 shares in the last quarter.

CarMax Stock Performance

Shares of KMX stock opened at $78.08 on Tuesday. The firm has a 50 day moving average of $80.44 and a 200-day moving average of $79.34. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 26.47, 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. CarMax, Inc. has a 52 week low of $65.83 and a 52 week high of $91.25.

Insiders Place Their Bets

In other CarMax news, EVP Mohammad Shamim sold 12,845 shares of the firm’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 value of $1,052,519.30. Following the completion of the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $961,811.72. This trade represents a 52.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,709 shares of company stock worth $7,642,379. 1.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KMX. Royal Bank of Canada upped their price objective on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Needham & Company LLC boosted their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. 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, the stock currently has a consensus rating of “Hold” and an average target price of $90.18.

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.