State Board of Administration of Florida Retirement System Cuts Holdings in CarMax, Inc (KMX)
State Board of Administration of Florida Retirement System decreased its holdings in shares of CarMax, Inc (NYSE:KMX) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,734 shares of the company’s stock after selling 3,020 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in CarMax were worth $17,431,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in shares of CarMax during the fourth quarter worth $27,000. Citizens Financial Group Inc RI acquired a new stake in shares of CarMax during the fourth quarter worth $33,000. Liberty Wealth Management LLC acquired a new stake in shares of CarMax during the first quarter worth $39,000. Private Capital Group LLC lifted its holdings in shares of CarMax by 35.3% during the fourth quarter. Private Capital Group LLC now owns 721 shares of the company’s stock worth $45,000 after buying an additional 188 shares in the last quarter. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of CarMax during the fourth quarter worth $48,000.
CarMax stock opened at $77.18 on Thursday. CarMax, Inc has a 12-month low of $55.24 and a 12-month high of $81.67. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.31. The company has a current ratio of 2.45, a quick ratio of 0.53 and a debt-to-equity ratio of 4.11.
KMX has been the subject of a number of research reports. Wedbush downgraded CarMax from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $60.00 in a report on Friday, January 18th. ValuEngine downgraded CarMax from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Zacks Investment Research downgraded CarMax from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $83.00 to $93.00 in a report on Monday, April 1st. Finally, Buckingham Research raised their price target on CarMax from $76.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. CarMax currently has an average rating of “Buy” and a consensus price target of $82.36.
In related news, EVP Eric M. Margolin sold 20,000 shares of CarMax stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $77.74, for a total value of $1,554,800.00. Following the transaction, the executive vice president now directly owns 35,160 shares of the company’s stock, valued at $2,733,338.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Diane L. Cafritz sold 3,484 shares of CarMax stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $71.04, for a total value of $247,503.36. Following the completion of the transaction, the senior vice president now directly owns 11,331 shares in the company, valued at $804,954.24. The disclosure for this sale can be found here. Insiders have sold 383,655 shares of company stock worth $27,437,638 over the last three months. Insiders own 2.09% of the company’s stock.
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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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