Cannell & Spears LLC Has $7.41 Million Stake in CarMax, Inc. (NYSE:KMX)

Cannell & Spears LLC lowered its stake in CarMax, Inc. (NYSE:KMX) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,646 shares of the company’s stock after selling 4,166 shares during the period. Cannell & Spears LLC owned 0.06% of CarMax worth $7,411,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake 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 buying an additional 282,519 shares during the period. State Street Corp increased its position in CarMax by 0.6% in the third quarter. State Street Corp now owns 6,193,174 shares of the company’s stock worth $479,228,000 after purchasing an additional 36,959 shares during the period. Norges Bank bought a new stake in CarMax during the 4th quarter worth about $423,187,000. Janus Henderson Group PLC lifted its position in CarMax by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock valued at $359,216,000 after purchasing an additional 28,466 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CarMax by 0.4% in the 3rd 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 during the last quarter.

CarMax Price Performance

Shares of KMX opened at $75.92 on Monday. The company’s fifty day simple moving average is $80.45 and its 200 day simple moving average is $79.33. CarMax, Inc. has a 1-year low of $65.83 and a 1-year high of $91.25. The company has a market cap of $11.68 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.67 and a beta of 1.76. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target 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. Mizuho upped their target price on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada increased their target price on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, CarMax presently has an average rating of “Hold” and a consensus target price of $90.18.

Insiders Place Their Bets

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Lyski sold 57,986 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $81.35, for a total value of $4,717,161.10. Following the completion of the sale, the executive vice president now directly owns 22,803 shares in the company, valued at $1,855,024.05. This trade represents a 71.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,709 shares of company stock worth $7,642,379 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.