CarMax, Inc. (NYSE:KMX) Position Lessened by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in CarMax, Inc. (NYSE:KMX) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,212 shares of the company’s stock after selling 441 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CarMax were worth $454,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KMX. Allworth Financial LP grew its holdings in shares of CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after acquiring an additional 207 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of CarMax in the 4th quarter worth $46,000. Lindbrook Capital LLC grew its holdings in shares of CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after acquiring an additional 155 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of CarMax in the 1st quarter worth $55,000. Finally, Federated Hermes Inc. acquired a new stake in shares of CarMax in the fourth quarter worth $62,000.

Insiders Place Their Bets

In related news, SVP Jon G. Daniels sold 1,231 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the sale, the senior vice president now directly owns 995 shares in the company, valued at $72,097.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 160,243 shares of company stock valued at $12,836,542. 1.66% of the stock is currently owned by corporate insiders.

CarMax Price Performance

NYSE KMX traded up $0.22 during trading on Monday, reaching $83.24. 355,358 shares of the company traded hands, compared to its average volume of 1,983,586. The company has a market cap of $12.99 billion, a price-to-earnings ratio of 32.43, a P/E/G ratio of 1.69 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The stock’s 50 day moving average price is $73.66 and its two-hundred day moving average price is $74.46.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, analysts anticipate that CarMax, Inc. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KMX. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research report on Monday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. JPMorgan Chase & Co. reduced their price objective on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Monday, April 15th. Wedbush lifted their price objective on CarMax from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their price objective on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CarMax presently has a consensus rating of “Hold” and an average price target of $76.25.

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.