Kentucky Retirement Systems Reduces Position in CarMax, Inc. (NYSE:KMX)

Kentucky Retirement Systems lessened its holdings in shares of CarMax, Inc. (NYSE:KMX) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,873 shares of the company’s stock after selling 987 shares during the period. Kentucky Retirement Systems’ holdings in CarMax were worth $841,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Community Trust NA purchased a new position in shares of CarMax during the second quarter valued at approximately $29,000. Quarry LP boosted its position in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after buying an additional 184 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of CarMax during the third quarter valued at approximately $32,000. Blue Trust Inc. boosted its position in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the period. Finally, Studio Investment Management LLC boosted its position in shares of CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after buying an additional 334 shares during the period.

Analysts Set New Price Targets

Several analysts have recently weighed in on KMX shares. JPMorgan Chase & Co. lifted their price target on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of CarMax in a research note on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.73.

CarMax Stock Performance

Shares of NYSE:KMX opened at $75.29 on Wednesday. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.59 and a beta of 1.68. CarMax, Inc. has a 52 week low of $62.90 and a 52 week high of $88.22. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The firm has a 50 day moving average of $75.07 and a 200 day moving average of $75.61.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. On average, sell-side analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

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.