New York State Teachers Retirement System Cuts Stock Holdings in CarMax, Inc. (NYSE:KMX)

New York State Teachers Retirement System lowered its position in CarMax, Inc. (NYSE:KMX) by 5.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,605 shares of the company’s stock after selling 6,845 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of CarMax worth $9,631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KMX. Norges Bank purchased a new position in shares of CarMax in the 4th quarter worth approximately $423,187,000. Kovitz Investment Group Partners LLC grew its position in shares of CarMax by 348.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after buying an additional 5,122,850 shares during the last quarter. AQR Capital Management LLC grew its position in shares of CarMax by 82.9% in the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company’s stock worth $114,465,000 after buying an additional 634,390 shares during the last quarter. GAMMA Investing LLC grew its position in shares of CarMax by 8,675.6% in the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company’s stock worth $40,193,000 after buying an additional 509,952 shares during the last quarter. Finally, ThornTree Capital Partners LP purchased a new position in shares of CarMax in the 4th quarter worth approximately $35,612,000.

CarMax Stock Performance

Shares of NYSE KMX opened at $69.94 on Friday. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a 12 month low of $61.34 and a 12 month high of $91.25. The company has a 50 day simple moving average of $66.28 and a two-hundred day simple moving average of $74.29. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.15 and a beta of 1.38.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the business posted $0.97 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of CarMax from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday, June 23rd. Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Cfra Research upgraded shares of CarMax to a “strong-buy” rating in a research note on Thursday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of CarMax from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.45.

Insider Activity at CarMax

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was acquired at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the purchase, the director owned 33,577 shares in the company, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the sale, the executive vice president owned 2,779 shares of the company’s stock, valued at approximately $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

CarMax 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.