CarMax shares reach new 52-week high amid institutional buying

CarMax, Inc. (NYSE: KMX) shares reached a new 52-week high, trading as high as $62.99. The company maintains a market capitalization of approximately $8.82 billion.

Recent SEC filings indicate significant institutional activity. Ieq Capital LLC acquired a new stake of 310,642 shares, valued at roughly $16.43 million, bringing its ownership to 0.22%. Other notable movements include Bank of America Corp DE increasing its position by 61.7% to hold 1,687,359 shares, and Bessemer Group Inc. lifting its position by 28.1%.

Financial analysts have recently adjusted their outlooks on the stock. JPMorgan Chase & Co. upgraded the company from an underweight to a neutral rating with a $60.00 price target, while Zacks Research moved its rating to a strong-buy. The consensus rating among analysts currently sits at “Hold” with an average target price of $51.00.