State of Michigan Retirement System Reduces Holdings in CarMax, Inc. (NYSE:KMX)

State of Michigan Retirement System trimmed its stake in CarMax, Inc. (NYSE:KMXFree Report) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,248 shares of the company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in CarMax were worth $3,767,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of CarMax by 20.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 42,913 shares of the company’s stock valued at $3,738,000 after buying an additional 7,181 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its position in CarMax by 26.6% during the 1st quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,785 shares of the company’s stock worth $330,000 after purchasing an additional 796 shares during the last quarter. Alpha Omega Wealth Management LLC grew its position in CarMax by 0.6% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 58,189 shares of the company’s stock worth $5,069,000 after purchasing an additional 320 shares during the last quarter. Investment Research & Advisory Group Inc. grew its position in CarMax by 15.5% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 22,577 shares of the company’s stock worth $1,967,000 after purchasing an additional 3,027 shares during the last quarter. Finally, WoodTrust Financial Corp grew its position in CarMax by 9.9% during the 1st quarter. WoodTrust Financial Corp now owns 11,000 shares of the company’s stock worth $958,000 after purchasing an additional 994 shares during the last quarter.

Insider Activity at CarMax

In related 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 transaction of $1,067,702.68. Following the transaction, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Jon G. Daniels sold 1,231 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The disclosure for this sale can be found here. Insiders own 1.66% of the company’s stock.

CarMax Stock Up 2.9 %

Shares of NYSE KMX opened at $73.28 on Wednesday. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a market capitalization of $11.44 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 1.45 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The firm’s 50-day moving average is $70.79 and its two-hundred day moving average is $74.03.

CarMax (NYSE:KMXGet Free Report) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities analysts anticipate that CarMax, Inc. will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. StockNews.com raised shares of CarMax to a “sell” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. lowered their price objective on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Monday, April 15th. Morgan Stanley reissued an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Royal Bank of Canada raised their price objective on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Finally, Argus raised shares of CarMax to a “hold” rating in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.50.

Read Our Latest Report on KMX

CarMax Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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