Allstate Corp Buys Shares of 4,638 CarMax, Inc. (NYSE:KMX)

Allstate Corp purchased a new position in shares of CarMax, Inc. (NYSE:KMX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,638 shares of the company’s stock, valued at approximately $379,000.

A number of other institutional investors and hedge funds have also modified their holdings of KMX. Principal Financial Group Inc. boosted its position in CarMax by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after purchasing an additional 282,519 shares in the last quarter. State Street Corp raised its stake in shares of CarMax by 0.6% during the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock worth $479,228,000 after buying an additional 36,959 shares during the last quarter. Norges Bank purchased a new stake in shares of CarMax in the 4th quarter worth about $423,187,000. Janus Henderson Group PLC grew its stake in CarMax by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock valued at $359,216,000 after acquiring an additional 28,466 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in CarMax by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after acquiring an additional 14,903 shares in the last quarter.

CarMax Trading Up 4.9 %

NYSE KMX opened at $82.71 on Thursday. The company has a 50-day moving average of $80.51 and a 200-day moving average of $79.36. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a market cap of $12.72 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.67 and a beta of 1.76.

Insider Buying and Selling

In other news, EVP Mohammad Shamim sold 12,845 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $81.94, for a total transaction of $1,052,519.30. Following the completion of the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $961,811.72. This represents a 52.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction on Wednesday, January 15th. The stock was 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 directly owns 9,448 shares in the company, valued at $765,288. This trade represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,723 shares of company stock valued at $2,925,218. Insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KMX. Royal Bank of Canada upped their price target on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. Truist Financial boosted their price target on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Mizuho increased their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Finally, StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.64.

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.