Prudential Financial Inc. Lowers Position in CarMax, Inc. (NYSE:KMX)

Prudential Financial Inc. cut its position in shares of CarMax, Inc. (NYSE:KMX) by 51.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 85,720 shares of the company’s stock after selling 89,853 shares during the quarter. Prudential Financial Inc.’s holdings in CarMax were worth $7,008,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after acquiring an additional 436 shares in the last quarter. Cromwell Holdings LLC boosted its position in CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after purchasing an additional 217 shares in the last quarter. Allworth Financial LP grew its holdings in CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after purchasing an additional 249 shares during the period. ST Germain D J Co. Inc. acquired a new stake in CarMax in the fourth quarter valued at approximately $58,000. Finally, Farther Finance Advisors LLC increased its position in shares of CarMax by 91.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company’s stock valued at $82,000 after buying an additional 480 shares in the last quarter.

CarMax Price Performance

CarMax stock opened at $75.92 on Monday. 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 company has a 50-day moving average price of $80.45 and a 200 day moving average price of $79.33. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. The stock has a market cap of $11.68 billion, a P/E ratio of 25.74, a PEG ratio of 1.67 and a beta of 1.76.

Insider Activity

In other news, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the transaction, the senior vice president now directly owns 227 shares in the company, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at $1,649,771.80. The trade was a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,709 shares of company stock valued at $7,642,379 in the last 90 days. Company insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KMX. Evercore ISI dropped their price target on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Truist Financial boosted 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. JPMorgan Chase & Co. reduced their price target 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 stock a “neutral” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada raised their target price on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Two investment 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’s stock. Based on data from MarketBeat, CarMax currently has an average 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.