Bank of Montreal Can Has $22.42 Million Stake in CarMax, Inc. (NYSE:KMX)

Bank of Montreal Can decreased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 274,245 shares of the company’s stock after selling 37,191 shares during the period. Bank of Montreal Can owned about 0.18% of CarMax worth $22,422,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new stake in CarMax during the 4th quarter worth approximately $423,187,000. Raymond James Financial Inc. acquired a new stake in shares of CarMax during the fourth quarter worth $31,061,000. 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 acquiring an additional 282,519 shares during the last quarter. American Century Companies Inc. increased its stake in CarMax by 25.3% in the fourth quarter. American Century Companies Inc. now owns 1,168,992 shares of the company’s stock valued at $95,577,000 after purchasing an additional 235,805 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in CarMax during the 4th quarter worth $18,710,000.

CarMax Trading Up 3.1 %

Shares of CarMax stock opened at $68.53 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax, Inc. has a 52 week low of $63.23 and a 52 week high of $91.25. The stock has a 50 day moving average price of $78.61 and a two-hundred day moving average price of $79.16. The stock has a market capitalization of $10.54 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58.

Insiders Place Their Bets

In other news, 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jill A. Livesay sold 13,009 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the completion of the transaction, the vice president now owns 9,448 shares in the company, valued at $765,288. This represents a 57.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,878 shares of company stock worth $1,872,699. Insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

KMX has been the topic of several research reports. Wedbush cut their price objective on shares of CarMax from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial increased their price target 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. Royal Bank of Canada reduced their target price on CarMax from $103.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. Finally, Evercore ISI decreased their target price on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.73.

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.