Ethic Inc. Lowers Stake in CarMax, Inc. (NYSE:KMX)

Ethic Inc. lowered its position in shares of CarMax, Inc. (NYSE:KMX) by 29.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,255 shares of the company’s stock after selling 3,506 shares during the quarter. Ethic Inc.’s holdings in CarMax were worth $675,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in CarMax by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after purchasing an additional 282,519 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock valued at $539,213,000 after purchasing an additional 5,122,850 shares in the last quarter. Norges Bank purchased a new position in CarMax during the fourth quarter valued at approximately $423,187,000. Geode Capital Management LLC lifted its holdings in CarMax by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock valued at $302,564,000 after purchasing an additional 47,058 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in CarMax by 4.3% during the fourth quarter. Baird Financial Group Inc. now owns 2,887,526 shares of the company’s stock valued at $236,084,000 after purchasing an additional 119,666 shares in the last quarter.

CarMax Price Performance

CarMax stock opened at $67.61 on Thursday. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.67 and a beta of 1.45. The firm’s fifty day moving average is $70.27 and its 200 day moving average is $77.88. 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 52-week low of $61.67 and a 52-week high of $91.25.

Insider Activity at CarMax

In other news, Director Mitchell D. Steenrod acquired 1,300 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director now directly owns 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI lowered their target price on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Cfra Research raised shares of CarMax to a “strong-buy” rating in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered their target price on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC lowered their target price 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 assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.