State of Michigan Retirement System Sells 200 Shares of CarMax, Inc. (NYSE:KMX)

State of Michigan Retirement System cut its stake in CarMax, Inc. (NYSE:KMX) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,248 shares of the company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in CarMax were worth $3,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KMX. Allworth Financial LP increased its stake in shares of CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of CarMax by 1,081.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after acquiring an additional 400 shares during the last quarter. Mendota Financial Group LLC bought a new stake in shares of CarMax in the 4th quarter valued at about $37,000. MCF Advisors LLC bought a new stake in shares of CarMax in the 4th quarter valued at about $46,000. Finally, Lindbrook Capital LLC increased its stake in shares of CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after acquiring an additional 155 shares during the last quarter.

CarMax Trading Up 2.9 %

NYSE KMX opened at $73.28 on Wednesday. The company has a market cap of $11.44 billion, a PE ratio of 28.63, a PEG ratio of 1.45 and a beta of 1.69. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The stock has a 50 day moving average of $70.79 and a 200-day moving average of $74.03.

CarMax (NYSE:KMX) last released its quarterly earnings data on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. On average, equities research analysts anticipate that CarMax, Inc. will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KMX has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Monday, April 15th. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of CarMax in a research report on Tuesday, June 18th. Argus upgraded CarMax to a “hold” rating in a research report on Tuesday, June 25th. Robert W. Baird decreased their price objective on CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday, April 12th. Finally, Truist Financial boosted their price objective on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.50.

Insider Activity

In related news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the sale, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the sale, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by insiders.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.