Wellington Management Group LLP Sells 201,147 Shares of CarMax, Inc. (NYSE:KMX)

Wellington Management Group LLP cut its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 607,796 shares of the company's stock after selling 201,147 shares during the quarter. Wellington Management Group LLP owned approximately 0.40% of CarMax worth $49,693,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Exchange Traded Concepts LLC boosted its position in CarMax by 13.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,187 shares of the company's stock worth $669,000 after acquiring an additional 975 shares during the last quarter. Blue Trust Inc. raised its stake in CarMax by 39.7% during the fourth quarter. Blue Trust Inc. now owns 1,457 shares of the company's stock worth $113,000 after purchasing an additional 414 shares during the period. Pacer Advisors Inc. raised its stake in CarMax by 94.6% during the fourth quarter. Pacer Advisors Inc. now owns 23,115 shares of the company's stock worth $1,890,000 after purchasing an additional 11,237 shares during the period. Forsta AP Fonden raised its stake in CarMax by 0.6% during the fourth quarter. Forsta AP Fonden now owns 34,800 shares of the company's stock worth $2,845,000 after purchasing an additional 200 shares during the period. Finally, Milestone Asset Management LLC raised its stake in CarMax by 8.8% during the fourth quarter. Milestone Asset Management LLC now owns 3,663 shares of the company's stock worth $299,000 after purchasing an additional 297 shares during the period.

CarMax Trading Up 2.7%

Shares of KMX stock traded up $1.73 during trading hours on Tuesday, reaching $65.93. 793,889 shares of the stock traded hands, compared to its average volume of 2,244,288. The firm has a market capitalization of $10.07 billion, a PE ratio of 22.35, a PEG ratio of 1.67 and a beta of 1.45. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The business has a fifty day moving average price of $68.29 and a 200 day moving average price of $76.93. CarMax, Inc. has a 1-year low of $61.34 and a 1-year high of $91.25.

Insider Buying and Selling at CarMax

In related news, Director Mitchell D. Steenrod bought 1,300 shares of CarMax stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the purchase, the director now owns 33,577 shares in the company, valued at approximately $2,198,957.73. This represents a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Evercore ISI dropped their price target on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Finally, Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $85.82.

CarMax Company 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.