VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.55 Million Investment in CarMax, Inc. $KMX

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in CarMax, Inc. (NYSE:KMX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 29,300 shares of the company’s stock, valued at approximately $1,550,000.

Several other institutional investors also recently made changes to their positions in KMX. California State Teachers Retirement System lifted its holdings in shares of CarMax by 4,934.8% in the 2nd quarter. California State Teachers Retirement System now owns 8,253,061 shares of the company’s stock worth $436,504,000 after purchasing an additional 8,089,141 shares during the last quarter. SRS Investment Management LLC boosted its position in CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock valued at $217,845,000 after purchasing an additional 5,327,603 shares during the period. AQR Capital Management LLC grew its stake in CarMax by 151.8% during the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after buying an additional 4,780,903 shares during the last quarter. Jupiter Topco LLC bought a new position in CarMax during the 2nd quarter worth $245,676,000. Finally, Primecap Management Co. CA acquired a new stake in CarMax in the second quarter worth $230,548,000.

Insiders Place Their Bets

In related news, Director Peter J. Bensen acquired 2,500 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares of the company’s stock, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sona Chawla bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the acquisition, the director owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This represents a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 13,900 shares of company stock worth $735,574. 1.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KMX has been the topic of a number of recent research reports. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. raised shares of CarMax from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $38.00 to $60.00 in a report on Wednesday, July 29th. Mizuho lifted their price objective on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. UBS Group set a $60.00 price objective on shares of CarMax in a research report on Wednesday, July 29th. Finally, Barclays raised shares of CarMax from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $37.00 to $61.00 in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CarMax currently has a consensus rating of “Hold” and an average price target of $51.00.

CarMax Price Performance

Shares of KMX opened at $61.47 on Friday. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 40.18, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. CarMax, Inc. has a one year low of $30.26 and a one year high of $65.28. The stock’s fifty day moving average is $58.70 and its 200-day moving average is $48.82.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. The business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share. Equities analysts anticipate that CarMax, Inc. will post 2.73 EPS for the current year.

About CarMax

CarMax, Inc is a specialty retailer of used vehicles and one of the largest automotive retailers in the United States. The company sells a broad selection of used cars, trucks and sport utility vehicles through its retail locations and online platform. CarMax also purchases vehicles from consumers and other sources, providing customers with a streamlined alternative to traditional private-party sales.

In addition to retail sales, CarMax operates wholesale vehicle auctions for vehicles that do not meet its retail standards or business requirements.