Arizona State Retirement System lowered its position in CarMax Inc (NYSE:KMX) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,900 shares of the company’s stock after selling 400 shares during the period. Arizona State Retirement System’s holdings in CarMax were worth $2,894,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Korea Investment CORP increased its position in shares of CarMax by 140.5% in the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after buying an additional 1,033 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of CarMax during the second quarter worth about $112,000. First Bank & Trust increased its position in shares of CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock worth $123,000 after buying an additional 138 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock worth $124,000 after buying an additional 49 shares in the last quarter. Finally, Global X Management Co. LLC increased its position in shares of CarMax by 7.3% in the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after buying an additional 169 shares in the last quarter.
CarMax Inc (NYSE KMX) opened at 63.97 on Friday. The stock has a market cap of $11.72 billion, a P/E ratio of 18.37 and a beta of 1.34. The company’s 50-day moving average price is $64.88 and its 200-day moving average price is $62.71. CarMax Inc has a 12 month low of $47.50 and a 12 month high of $69.11.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the company earned $0.90 EPS. CarMax’s revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that CarMax Inc will post $3.70 earnings per share for the current year.
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A number of equities analysts have issued reports on the company. Deutsche Bank AG lowered their price target on CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. set a $72.00 price target on CarMax and gave the stock a “buy” rating in a research report on Friday, April 21st. Zacks Investment Research upgraded CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a research report on Wednesday. UBS AG downgraded CarMax from a “positive” rating to a “neutral” rating in a research report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $74.00 price target (up previously from $72.00) on shares of CarMax in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. CarMax has a consensus rating of “Buy” and an average price target of $69.15.
In related news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $66.87, for a total value of $573,945.21. Following the sale, the chief financial officer now owns 70,522 shares of the company’s stock, valued at approximately $4,715,806.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mohammad Shamim sold 13,938 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $66.08, for a total value of $921,023.04. Following the completion of the sale, the senior vice president now directly owns 9,218 shares in the company, valued at approximately $609,125.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,515 shares of company stock worth $12,085,019. 1.70% of the stock is owned by corporate insiders.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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