OLD National Bancorp IN Lowers Stock Position in CarMax, Inc. (NYSE:KMX)

OLD National Bancorp IN lowered its position in CarMax, Inc. (NYSE:KMX - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,416 shares of the company's stock after selling 11,848 shares during the period. OLD National Bancorp IN owned approximately 0.13% of CarMax worth $15,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Sequoia Financial Advisors LLC lifted its stake in shares of CarMax by 10.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock worth $261,000 after acquiring an additional 307 shares during the last quarter. Jones Financial Companies Lllp increased its stake in CarMax by 36.6% in 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 period. Principal Financial Group Inc. lifted its position in shares of 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of CarMax by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 354,380 shares of the company's stock worth $28,974,000 after purchasing an additional 3,019 shares during the last quarter. Finally, Essex Financial Services Inc. purchased a new stake in shares of CarMax during the fourth quarter valued at $235,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird decreased their target price on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Wedbush reissued an "outperform" rating and issued a $90.00 price target on shares of CarMax in a research report on Monday, May 19th. Needham & Company LLC dropped their price objective on CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Finally, Royal Bank of Canada reissued an "underperform" rating on shares of CarMax in a research report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $85.82.

Insiders Place Their Bets

In other CarMax news, Director Mitchell D. Steenrod purchased 1,300 shares of the stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $65.49 per share, with a total value of $85,137.00. Following the completion of the acquisition, the director now owns 33,577 shares in the company, valued at $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

CarMax Stock Performance

Shares of NYSE:KMX traded up $0.28 on Friday, hitting $65.68. 1,821,635 shares of the company were exchanged, compared to its average volume of 2,262,407. The firm has a market capitalization of $10.03 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38. 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 1-year low of $61.34 and a 1-year high of $91.25. The stock's 50 day moving average price is $67.36 and its 200 day moving average price is $76.63.

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.