New York State Teachers Retirement System Has $5.27 Million Stake in CarMax, Inc. $KMX

New York State Teachers Retirement System trimmed its stake in CarMax, Inc. (NYSE:KMX) by 23.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,675 shares of the company’s stock after selling 38,568 shares during the period. New York State Teachers Retirement System’s holdings in CarMax were worth $5,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KMX. CYBER HORNET ETFs LLC bought a new stake in CarMax during the second quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new position in shares of CarMax in the second quarter valued at approximately $30,000. Huntington National Bank lifted its stake in shares of CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after buying an additional 265 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of CarMax in the third quarter worth $32,000. Finally, Commonwealth Retirement Investments LLC bought a new stake in shares of CarMax during the 4th quarter worth $33,000.

CarMax Trading Up 1.7%

Shares of CarMax stock opened at $51.08 on Wednesday. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $69.38. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The firm has a market capitalization of $7.25 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. The company’s fifty day moving average price is $45.16 and its two-hundred day moving average price is $43.66.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. On average, analysts expect that CarMax, Inc. will post 2.68 EPS for the current year.

Insider Transactions at CarMax

In other news, Director Peter J. Bensen acquired 2,500 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $52.20 per share, with a total value of $130,500.00. Following the completion of the acquisition, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Keith Barr bought 9,400 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the purchase, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. The trade was a 39.21% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 13,900 shares of company stock valued at $735,574. 1.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KMX has been the topic of a number of research analyst reports. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price on the stock in a research note on Thursday, June 18th. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. Royal Bank Of Canada upped their price target on shares of CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Argus raised CarMax to a “hold” rating in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $47.73.

CarMax Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.