Teachers Retirement System of The State of Kentucky Lowers Stake in CarMax, Inc (KMX)
Teachers Retirement System of The State of Kentucky trimmed its position in shares of CarMax, Inc (NYSE:KMX) by 6.3% during the third quarter, HoldingsChannel.com reports. The firm owned 81,508 shares of the company’s stock after selling 5,470 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CarMax were worth $6,087,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. CWM LLC raised its position in CarMax by 266.0% in the 3rd quarter. CWM LLC now owns 1,442 shares of the company’s stock valued at $108,000 after buying an additional 1,048 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in CarMax in the 3rd quarter valued at $123,000. JNBA Financial Advisors raised its position in CarMax by 3,526.9% in the 3rd quarter. JNBA Financial Advisors now owns 1,886 shares of the company’s stock valued at $141,000 after buying an additional 1,834 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in CarMax in the 2nd quarter valued at $149,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in CarMax by 57.7% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after buying an additional 750 shares during the last quarter.
In other CarMax news, SVP Mohammad Shamim sold 34,142 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $74.16, for a total value of $2,531,970.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jon G. Daniels sold 16,325 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $70.88, for a total value of $1,157,116.00. Following the completion of the transaction, the senior vice president now owns 16,325 shares of the company’s stock, valued at approximately $1,157,116. The disclosure for this sale can be found here. 1.97% of the stock is owned by company insiders.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.02. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.65 billion. CarMax had a return on equity of 22.26% and a net margin of 4.12%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. On average, equities analysts forecast that CarMax, Inc will post 4.63 EPS for the current year.
A number of research firms recently commented on KMX. Zacks Investment Research lowered CarMax from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. Wolfe Research assumed coverage on CarMax in a research note on Tuesday, October 2nd. They issued a “peer perform” rating for the company. Wedbush restated an “outperform” rating and issued a $85.00 price objective on shares of CarMax in a research note on Thursday, August 16th. ValuEngine downgraded CarMax from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Robert W. Baird upgraded CarMax from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. CarMax presently has an average rating of “Buy” and a consensus target price of $83.93.
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CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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