Arrowstreet Capital Limited Partnership Purchases Shares of 228,846 CarMax, Inc. (NYSE:KMX)

Arrowstreet Capital Limited Partnership acquired 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 firm acquired 228,846 shares of the company’s stock, valued at approximately $18,710,000. Arrowstreet Capital Limited Partnership owned approximately 0.15% of CarMax at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KMX. Lakewood Asset Management LLC raised its stake in CarMax by 0.6% during the fourth quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company’s stock worth $1,778,000 after acquiring an additional 135 shares in the last quarter. Arete Wealth Advisors LLC grew its stake in CarMax by 4.3% during the third quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company’s stock worth $266,000 after buying an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of CarMax by 3.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company’s stock valued at $383,000 after acquiring an additional 141 shares during the last quarter. Timber Creek Capital Management LLC grew its position in CarMax by 0.3% during the 4th quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company’s stock worth $4,709,000 after acquiring an additional 145 shares during the last quarter. Finally, Chemistry Wealth Management LLC increased its holdings in CarMax by 1.4% during the 4th quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company’s stock valued at $999,000 after purchasing an additional 164 shares in the last quarter.

Insider Activity

In other news, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the transaction, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. This trade represents a 95.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jill A. Livesay sold 13,009 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the completion of the sale, the vice president now directly owns 9,448 shares in the company, valued at approximately $765,288. The trade was a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,723 shares of company stock worth $2,925,218 over the last ninety days. Insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on KMX shares. Truist Financial upped their price target on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. Royal Bank of Canada increased their price objective on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $100.00 price target on shares of CarMax in a research note on Tuesday. Finally, Mizuho lifted their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Two 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $90.64.

CarMax Stock Performance

KMX opened at $75.66 on Friday. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.67 and a beta of 1.76. The business’s 50-day moving average price is $80.26 and its two-hundred day moving average price is $79.32. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25. 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 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.