CarMax, Inc. (NYSE:KMX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its position in CarMax, Inc. (NYSE:KMX) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 33,543 shares of the company’s stock after selling 679 shares during the quarter. Retirement Systems of Alabama’s holdings in CarMax were worth $2,742,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Lakewood Asset Management LLC increased its stake in CarMax by 0.6% during the 4th quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company’s stock valued at $1,778,000 after buying an additional 135 shares during the period. Arete Wealth Advisors LLC increased its stake in CarMax by 4.3% during the 3rd quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company’s stock valued at $266,000 after buying an additional 141 shares during the period. Chemistry Wealth Management LLC increased its stake in CarMax by 1.4% during the 4th quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company’s stock valued at $999,000 after buying an additional 164 shares during the period. Sompo Asset Management Co. Ltd. increased its stake in CarMax by 1.6% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 10,602 shares of the company’s stock valued at $820,000 after buying an additional 170 shares during the period. Finally, Signaturefd LLC boosted its position in shares of CarMax by 12.5% during the 3rd quarter. Signaturefd LLC now owns 1,545 shares of the company’s stock valued at $120,000 after purchasing an additional 172 shares in the last quarter.

Insider Buying and Selling

In related news, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $15,123,292.92. This trade represents a 39.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mohammad Shamim sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $83.77, for a total transaction of $837,700.00. Following the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $983,292.26. The trade was a 46.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KMX. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Mizuho raised their price objective on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Needham & Company LLC raised their price objective on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Evercore ISI upgraded shares of CarMax from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $90.00 to $110.00 in a research report on Thursday, February 6th. Finally, Truist Financial raised their target price on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, CarMax has an average rating of “Hold” and a consensus target price of $87.50.

CarMax Stock Performance

KMX stock opened at $86.77 on Wednesday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The stock has a market cap of $13.34 billion, a P/E ratio of 29.41, a P/E/G ratio of 1.70 and a beta of 1.72. The firm has a 50 day simple moving average of $83.21 and a 200 day simple moving average of $79.72. CarMax, Inc. has a 52 week low of $65.83 and a 52 week high of $91.25.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.62 by $0.19. The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. Research analysts anticipate that CarMax, Inc. will post 3.22 earnings per share for the current fiscal year.

CarMax Company Profile

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.