New York State Common Retirement Fund Decreases Position in CarMax, Inc. (NYSE:KMX)

New York State Common Retirement Fund decreased its stake in CarMax, Inc. (NYSE:KMX) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,920 shares of the company’s stock after selling 5,000 shares during the quarter. New York State Common Retirement Fund’s holdings in CarMax were worth $5,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in CarMax by 71.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,909 shares of the company’s stock worth $647,000 after buying an additional 3,288 shares during the period. Empower Advisory Group LLC boosted its stake in shares of CarMax by 8.4% during the 4th quarter. Empower Advisory Group LLC now owns 4,278 shares of the company’s stock worth $350,000 after purchasing an additional 331 shares during the period. CIBC Asset Management Inc grew its holdings in CarMax by 4.2% during the 4th quarter. CIBC Asset Management Inc now owns 23,808 shares of the company’s stock valued at $1,947,000 after purchasing an additional 968 shares during the last quarter. Principal Financial Group Inc. grew its holdings in CarMax by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after purchasing an additional 282,519 shares during the last quarter. Finally, Americana Partners LLC purchased a new stake in CarMax in the 4th quarter worth about $283,000.

CarMax Trading Down 0.7 %

NYSE:KMX opened at $81.92 on Friday. 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 firm has a 50-day simple moving average of $83.30 and a 200-day simple moving average of $80.28. CarMax, Inc. has a one year low of $65.83 and a one year high of $91.25. The firm has a market cap of $12.60 billion, a P/E ratio of 27.77, a P/E/G ratio of 1.67 and a beta of 1.72.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.19. The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. Equities analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity

In related news, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $15,123,292.92. This trade represents a 39.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Lyski sold 57,986 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $81.35, for a total transaction of $4,717,161.10. Following the sale, the executive vice president now owns 22,803 shares in the company, valued at approximately $1,855,024.05. This represents a 71.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 264,467 shares of company stock worth $21,915,445. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KMX shares. Evercore ISI upgraded CarMax from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $90.00 to $110.00 in a research report on Thursday, February 6th. Mizuho boosted their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Stephens began coverage on CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price on the stock. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada raised their price target on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, CarMax currently has an average rating of “Hold” and an average price target of $87.50.

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.