Bank of America Corp DE Grows Stock Position in CarMax, Inc. (NYSE:KMX)

Bank of America Corp DE raised its holdings in CarMax, Inc. (NYSE:KMX) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,535,828 shares of the company’s stock after buying an additional 130,653 shares during the quarter. Bank of America Corp DE’s holdings in CarMax were worth $125,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KMX. BNP Paribas Financial Markets increased its stake in CarMax by 56.3% during the fourth quarter. BNP Paribas Financial Markets now owns 339,931 shares of the company’s stock worth $27,793,000 after acquiring an additional 122,418 shares during the last quarter. Algert Global LLC raised its holdings in CarMax by 1,341.0% in the fourth quarter. Algert Global LLC now owns 70,896 shares of the company’s stock valued at $5,796,000 after buying an additional 65,976 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in CarMax by 49.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,078 shares of the company’s stock valued at $1,315,000 after buying an additional 5,329 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in CarMax during the fourth quarter worth approximately $20,504,000. Finally, Voleon Capital Management LP acquired a new stake in shares of CarMax in the fourth quarter worth $611,000.

Insider Transactions at CarMax

In other news, Director Mitchell D. Steenrod bought 1,300 shares of CarMax stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, with a total value of $85,137.00. Following the purchase, the director now directly owns 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. This trade represents a 4.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

KMX has been the subject of several recent research reports. Cfra Research upgraded CarMax to a “strong-buy” rating in a report on Thursday, April 10th. Evercore ISI lowered their price objective on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of CarMax in a report on Monday, April 21st. Finally, Needham & Company LLC cut their price objective on shares of CarMax from $101.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $87.73.

CarMax Price Performance

Shares of NYSE KMX opened at $66.29 on Friday. The business has a 50 day simple moving average of $70.82 and a 200-day simple moving average of $77.99. CarMax, Inc. has a twelve month low of $61.67 and a twelve month high of $91.25. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

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.