Teachers Retirement System of The State of Kentucky Reduces Stock Position in CarMax, Inc. (NYSE:KMX)

Teachers Retirement System of The State of Kentucky lessened its position in CarMax, Inc. (NYSE:KMX) by 9.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,674 shares of the company’s stock after selling 1,243 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CarMax were worth $903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KMX. Toronto Dominion Bank grew its stake in shares of CarMax by 21.5% in the third quarter. Toronto Dominion Bank now owns 55,628 shares of the company’s stock worth $4,304,000 after purchasing an additional 9,855 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of CarMax in the 3rd quarter worth approximately $3,934,000. Coldstream Capital Management Inc. purchased a new position in shares of CarMax during the third quarter valued at approximately $208,000. Geode Capital Management LLC raised its holdings in shares of CarMax by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after acquiring an additional 14,903 shares in the last quarter. Finally, Vestcor Inc lifted its stake in CarMax by 54.9% in the third quarter. Vestcor Inc now owns 3,332 shares of the company’s stock worth $258,000 after acquiring an additional 1,181 shares during the period.

CarMax Price Performance

KMX opened at $81.42 on Thursday. The firm has a market cap of $12.61 billion, a PE ratio of 30.61, a P/E/G ratio of 1.76 and a beta of 1.71. The stock has a 50-day moving average price of $78.50 and a 200-day moving average price of $77.50. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $88.22. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts predict that CarMax, Inc. will post 3.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KMX has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price objective on shares of CarMax in a report on Wednesday, October 16th. BNP Paribas upgraded CarMax to a “strong sell” rating in a report on Friday, September 27th. Stephens initiated coverage on CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price for the company. Finally, Evercore ISI lifted their price target on CarMax from $81.00 to $83.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, CarMax currently has an average rating of “Hold” and an average price target of $81.00.

About CarMax

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.