Raymond James Financial Inc. Purchases Shares of 379,899 CarMax, Inc. (NYSE:KMX)

Raymond James Financial Inc. purchased a new stake in shares of CarMax, Inc. (NYSE:KMX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 379,899 shares of the company’s stock, valued at approximately $31,061,000. Raymond James Financial Inc. owned about 0.25% of CarMax at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. APG Asset Management N.V. acquired a new position in CarMax during the 4th quarter worth $6,790,000. Nixon Capital LLC raised its stake in shares of CarMax by 56.3% during the fourth quarter. Nixon Capital LLC now owns 225,749 shares of the company’s stock valued at $17,669,000 after purchasing an additional 81,342 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in CarMax by 108.6% in the fourth quarter. Renaissance Technologies LLC now owns 695,900 shares of the company’s stock worth $56,897,000 after purchasing an additional 362,300 shares during the period. Mount Capital Ltd grew its position in CarMax by 39.0% in the 4th quarter. Mount Capital Ltd now owns 342,700 shares of the company’s stock valued at $28,019,000 after buying an additional 96,200 shares in the last quarter. Finally, Elgethun Capital Management increased its stake in CarMax by 7.5% during the 4th quarter. Elgethun Capital Management now owns 61,547 shares of the company’s stock valued at $5,032,000 after buying an additional 4,311 shares during the period.

Analyst Ratings Changes

A number of analysts have recently weighed in on KMX shares. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, March 26th. Robert W. Baird decreased their price target on CarMax from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. StockNews.com cut CarMax from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. cut 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, Mizuho lifted their target price on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CarMax presently has an average rating of “Hold” and an average price target of $87.73.

Insider Activity at CarMax

In related news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares of the company’s stock, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.66% of the stock is owned by insiders.

CarMax Price Performance

Shares of NYSE:KMX opened at $64.14 on Thursday. The company has a market cap of $9.79 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The company’s fifty day moving average is $77.48 and its two-hundred day moving average is $78.92. 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 12-month low of $63.23 and a 12-month high of $91.25.

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.