Ameriprise Financial Inc. Has $49.77 Million Stake in CarMax, Inc. (NYSE:KMX)

Ameriprise Financial Inc. reduced its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 608,685 shares of the company's stock after selling 53,613 shares during the quarter. Ameriprise Financial Inc. owned 0.40% of CarMax worth $49,767,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. First Hawaiian Bank bought a new position in CarMax in the 4th quarter valued at about $273,000. Sequoia Financial Advisors LLC raised its position in CarMax by 10.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after purchasing an additional 307 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in CarMax by 36.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock worth $426,000 after purchasing an additional 1,396 shares during the last quarter. HF Advisory Group LLC lifted its stake in CarMax by 12.6% during the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company's stock worth $2,354,000 after purchasing an additional 3,222 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of CarMax in the 4th quarter valued at $600,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KMX. Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of CarMax in a research report on Monday, April 21st. Royal Bank of Canada reissued an "underperform" rating on shares of CarMax in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price target 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. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. Finally, Robert W. Baird lowered their price target on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company 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 issued a strong buy rating to the company. According to data from MarketBeat.com, CarMax has an average rating of "Hold" and a consensus target price of $87.73.

CarMax Trading Down 2.8%

KMX stock traded down $1.95 during trading on Wednesday, hitting $67.61. The company had a trading volume of 4,084,361 shares, compared to its average volume of 2,144,810. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a one year low of $61.67 and a one year high of $91.25. The business has a 50-day moving average of $70.46 and a 200-day moving average of $77.95. The stock has a market cap of $10.32 billion, a PE ratio of 22.92, a PEG ratio of 1.67 and a beta of 1.45.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of CarMax stock in a transaction on Thursday, April 24th. The stock was acquired at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the acquisition, the director now owns 33,577 shares of the company's stock, valued at $2,198,957.73. This trade represents a 4.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.66% of the stock is owned by insiders.

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.