Public Employees Retirement System of Ohio lessened its position in shares of CarMax, Inc (NYSE:KMX) by 30.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,407 shares of the company’s stock after selling 22,617 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CarMax were worth $4,550,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its holdings in CarMax by 86.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 398 shares of the company’s stock valued at $35,000 after buying an additional 185 shares during the period. Hanson & Doremus Investment Management purchased a new stake in CarMax in the 2nd quarter valued at about $51,000. FNY Investment Advisers LLC grew its holdings in CarMax by 6,633.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 588 shares of the company’s stock valued at $51,000 after buying an additional 597 shares during the period. Carroll Financial Associates Inc. grew its holdings in CarMax by 181.1% in the 2nd quarter. Carroll Financial Associates Inc. now owns 759 shares of the company’s stock valued at $65,000 after buying an additional 489 shares during the period. Finally, Manchester Financial Inc. purchased a new stake in CarMax in the 2nd quarter valued at about $65,000.
Several research firms have commented on KMX. Morgan Stanley lowered their price target on CarMax from $99.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Wedbush lifted their price target on CarMax from $65.00 to $80.00 and gave the company an “average” rating in a report on Monday, June 24th. Argus started coverage on CarMax in a report on Friday, June 28th. They set a “buy” rating and a $100.00 target price for the company. Bank of America boosted their target price on CarMax from $95.00 to $112.00 in a report on Monday, June 24th. Finally, Buckingham Research cut CarMax from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $81.00 to $94.00 in a report on Monday, June 24th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $94.12.
CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.10. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.17 billion. CarMax had a return on equity of 25.37% and a net margin of 4.64%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, equities research analysts forecast that CarMax, Inc will post 5.26 EPS for the current year.
In related news, SVP Mohammad Shamim sold 13,894 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $90.39, for a total transaction of $1,255,878.66. Following the transaction, the senior vice president now directly owns 16,718 shares of the company’s stock, valued at approximately $1,511,140.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas W. Reedy, Jr. sold 77,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $83.20, for a total value of $6,406,400.00. Following the transaction, the chief financial officer now directly owns 138,520 shares in the company, valued at $11,524,864. The disclosure for this sale can be found here. Insiders have sold a total of 377,047 shares of company stock worth $31,898,938 over the last three months. 2.09% of the stock is currently owned by corporate insiders.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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