Kentucky Retirement Systems Lowers Stake in CarMax, Inc. (NYSE:KMX)

Kentucky Retirement Systems cut its position in shares of CarMax, Inc. (NYSE:KMX) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,993 shares of the company’s stock after selling 702 shares during the quarter. Kentucky Retirement Systems’ holdings in CarMax were worth $1,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP grew its holdings in shares of CarMax by 153.3% during the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of CarMax during the fourth quarter worth about $46,000. Lindbrook Capital LLC grew its holdings in shares of CarMax by 32.8% during the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after buying an additional 155 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of CarMax during the first quarter worth about $55,000. Finally, Federated Hermes Inc. purchased a new stake in shares of CarMax during the fourth quarter worth about $62,000.

CarMax Stock Up 0.4 %

Shares of NYSE:KMX traded up $0.37 during midday trading on Monday, reaching $83.39. The company had a trading volume of 317,411 shares, compared to its average volume of 1,983,445. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The stock’s fifty day moving average price is $73.66 and its 200-day moving average price is $74.46. The stock has a market capitalization of $13.02 billion, a P/E ratio of 32.43, a PEG ratio of 1.69 and a beta of 1.69. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22.

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

Insider Buying and Selling

In related news, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CarMax news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the sale, the chief operating officer now owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,243 shares of company stock worth $12,836,542. Insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KMX shares. Evercore ISI raised their target price on shares of CarMax from $68.00 to $72.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 16th. Royal Bank of Canada raised their target price on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research report on Monday, June 24th. Finally, Needham & Company LLC decreased their target price on shares of CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.