Allstate Corp Makes New Investment in CarMax, Inc. (NYSE:KMX)

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

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in CarMax in the fourth quarter valued at approximately $423,187,000. FMR LLC lifted its position in shares of CarMax by 2,883.1% during the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after buying an additional 1,713,379 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of CarMax in the 4th quarter valued at $31,061,000. Principal Financial Group Inc. grew its position in shares of CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after buying an additional 282,519 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of CarMax by 25.3% in the 4th quarter. American Century Companies Inc. now owns 1,168,992 shares of the company’s stock valued at $95,577,000 after buying an additional 235,805 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KMX. Mizuho upped their price objective on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Needham & Company LLC raised their price target on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Finally, 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 report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $90.64.

Insider Activity

In other CarMax news, EVP Mohammad Shamim sold 12,845 shares of CarMax stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $81.94, for a total value of $1,052,519.30. Following the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $961,811.72. The trade was a 52.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the transaction, the senior vice president now owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,723 shares of company stock valued at $2,925,218 over the last quarter. Corporate insiders own 1.66% of the company’s stock.

CarMax Stock Performance

NYSE:KMX opened at $82.71 on Thursday. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The firm has a market cap of $12.72 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The firm’s fifty day moving average price is $80.51 and its 200 day moving average price is $79.36. CarMax, Inc. has a 1-year low of $65.83 and a 1-year high of $91.25.

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.