Retirement Systems of Alabama Sells 805 Shares of CarMax, Inc. (NYSE:KMX)

Retirement Systems of Alabama reduced its position in CarMax, Inc. (NYSE:KMX) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,968 shares of the company’s stock after selling 805 shares during the quarter. Retirement Systems of Alabama’s holdings in CarMax were worth $2,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KMX. Cambridge Investment Research Advisors Inc. increased its stake in CarMax by 3.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,944 shares of the company’s stock valued at $2,047,000 after acquiring an additional 999 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of CarMax by 3.8% in the 3rd quarter. Raymond James & Associates now owns 293,176 shares of the company’s stock valued at $20,736,000 after purchasing an additional 10,824 shares in the last quarter. Forsta AP Fonden increased its stake in shares of CarMax by 1.9% in the 3rd quarter. Forsta AP Fonden now owns 32,800 shares of the company’s stock valued at $2,320,000 after purchasing an additional 600 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of CarMax by 7.3% during the 3rd quarter. Mackenzie Financial Corp now owns 6,890 shares of the company’s stock worth $475,000 after buying an additional 470 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of CarMax during the 3rd quarter worth $1,422,000.

Insider Activity at CarMax

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

CarMax Trading Down 0.5 %

Shares of KMX stock opened at $69.23 on Wednesday. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.15 and a beta of 1.64. The stock has a 50-day moving average of $77.54 and a 200-day moving average of $72.20.

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

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of recent analyst reports. Evercore ISI decreased their target price on CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research report on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Tuesday, April 9th. Robert W. Baird cut their target price on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a research report on Friday, April 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $83.00 price target on shares of CarMax in a report on Monday, April 8th. Finally, Bank of America increased their price target on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.42.

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.