Royal Bank of Canada Has $35.70 Million Stake in CarMax, Inc. (NYSE:KMX)

Royal Bank of Canada reduced its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 28.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 436,682 shares of the company's stock after selling 171,680 shares during the period. Royal Bank of Canada owned about 0.28% of CarMax worth $35,704,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in CarMax during the 4th quarter valued at about $423,187,000. Kovitz Investment Group Partners LLC grew its position in shares of CarMax by 348.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after buying an additional 5,122,850 shares during the period. AQR Capital Management LLC grew its position in shares of CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock worth $114,465,000 after buying an additional 634,390 shares during the period. Raymond James Financial Inc. acquired a new position in CarMax during the fourth quarter valued at approximately $31,061,000. Finally, Renaissance Technologies LLC grew its holdings in CarMax by 108.6% during the fourth quarter. Renaissance Technologies LLC now owns 695,900 shares of the company's stock valued at $56,897,000 after purchasing an additional 362,300 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Robert W. Baird reduced their price objective on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Royal Bank of Canada reiterated an "underperform" rating on shares of CarMax in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $87.73.

CarMax Stock Down 0.2%

Shares of KMX opened at $63.23 on Friday. CarMax, Inc. has a 12 month low of $61.67 and a 12 month high of $91.25. The firm's 50 day moving average is $69.59 and its 200-day moving average is $77.58. The stock has a market capitalization of $9.65 billion, a PE ratio of 21.43, a P/E/G ratio of 1.67 and a beta of 1.45. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

Insider Transactions at CarMax

In other news, Director Mitchell D. Steenrod acquired 1,300 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $65.49 per share, with a total value of $85,137.00. Following the completion of the purchase, the director now directly owns 33,577 shares of the company's stock, valued at $2,198,957.73. The trade was a 4.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.70% of the company's stock.

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.

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