Two Sigma Investments LP Cuts Holdings in CarMax, Inc. (NYSE:KMX)

Two Sigma Investments LP lowered its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,564 shares of the company's stock after selling 72,400 shares during the period. Two Sigma Investments LP owned about 0.32% of CarMax worth $40,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its holdings in CarMax by 10.6% in 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 position in shares of CarMax by 36.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock worth $426,000 after buying an additional 1,396 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of CarMax in the 4th quarter valued at $600,000. Principal Financial Group Inc. boosted its holdings 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 in the last quarter. Finally, Greenup Street Wealth Management LLC purchased a new position in shares of CarMax in the 4th quarter valued at $1,910,000.

CarMax Price Performance

Shares of KMX opened at $66.75 on Wednesday. CarMax, Inc. has a 12 month low of $61.67 and a 12 month 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. The stock has a fifty day moving average price of $69.90 and a 200 day moving average price of $77.74. The company has a market cap of $10.19 billion, a P/E ratio of 22.63, a PEG ratio of 1.67 and a beta of 1.45.

Insider Buying and Selling at CarMax

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KMX shares. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of CarMax in a report on Monday. StockNews.com raised CarMax from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a research note on Monday, April 21st. JPMorgan Chase & Co. cut their price target on CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Finally, Evercore ISI reduced their price objective on CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $87.73.

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.

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