Retirement Systems of Alabama Lowers Stock Position in CarMax, Inc. (NYSE:KMX)

Retirement Systems of Alabama decreased its position in CarMax, Inc. (NYSE:KMX) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,968 shares of the company’s stock after selling 805 shares during the period. Retirement Systems of Alabama’s holdings in CarMax were worth $2,683,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in CarMax by 3.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,944 shares of the company’s stock worth $2,047,000 after purchasing an additional 999 shares in the last quarter. Raymond James & Associates increased its holdings in CarMax by 3.8% in the 3rd quarter. Raymond James & Associates now owns 293,176 shares of the company’s stock worth $20,736,000 after acquiring an additional 10,824 shares in the last quarter. Forsta AP Fonden raised its position in CarMax by 1.9% during the third quarter. Forsta AP Fonden now owns 32,800 shares of the company’s stock worth $2,320,000 after acquiring an additional 600 shares during the period. Mackenzie Financial Corp lifted its holdings in CarMax by 7.3% during the third quarter. Mackenzie Financial Corp now owns 6,890 shares of the company’s stock valued at $475,000 after purchasing an additional 470 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of CarMax in the third quarter valued at about $1,422,000.

Insider Buying and Selling at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the sale, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Needham & Company LLC cut their price objective on CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 12th. JPMorgan Chase & Co. decreased their price objective on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, April 15th. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of CarMax in a research note on Tuesday, April 16th. Mizuho dropped their target price on CarMax from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Evercore ISI cut their target price on shares of CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.42.

CarMax Trading Down 0.5 %

NYSE KMX opened at $69.23 on Wednesday. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.67. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.64. The company’s fifty day moving average price is $77.54 and its two-hundred day moving average price is $72.20.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. As a group, research analysts predict that CarMax, Inc. will post 3.27 earnings per share for the current fiscal year.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.