Public Sector Pension Investment Board Buys 2,360 Shares of CarMax, Inc. (NYSE:KMX)

Public Sector Pension Investment Board boosted its stake in CarMax, Inc. (NYSE:KMX) by 65.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,953 shares of the company’s stock after purchasing an additional 2,360 shares during the quarter. Public Sector Pension Investment Board’s holdings in CarMax were worth $437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KMX. First Community Trust NA bought a new stake in shares of CarMax in the second quarter worth about $29,000. Blue Trust Inc. increased its holdings in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares in the last quarter. Studio Investment Management LLC increased its holdings in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of CarMax in the first quarter worth about $55,000. Finally, First Financial Corp IN increased its holdings in shares of CarMax by 127.2% in the first quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock worth $91,000 after acquiring an additional 585 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com upgraded CarMax to a “sell” rating in a report on Friday, July 26th. Mizuho decreased their price objective on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Wedbush reiterated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Finally, Evercore ISI decreased their price objective on CarMax from $79.00 to $76.00 and set an “in-line” rating for the company in a report on Thursday. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.45.

CarMax Stock Performance

Shares of NYSE KMX opened at $74.19 on Friday. The stock has a 50 day moving average price of $79.51 and a 200 day moving average price of $76.23. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. The stock has a market capitalization of $11.58 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $965,567.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The disclosure for this sale can be found here. Insiders sold a total of 184,012 shares of company stock valued at $14,803,843 over the last three months. Insiders own 1.66% of the company’s stock.

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.