Strs Ohio Purchases New Position in CarMax, Inc. $KMX

Strs Ohio purchased a new stake in CarMax, Inc. (NYSE:KMX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 21,819 shares of the company’s stock, valued at approximately $1,700,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in CarMax in the first quarter valued at $27,000. Accent Capital Management LLC purchased a new stake in CarMax in the first quarter valued at $34,000. Strengthening Families & Communities LLC lifted its position in CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after acquiring an additional 256 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of CarMax in the fourth quarter valued at about $53,000. Finally, Quarry LP raised its holdings in shares of CarMax by 50.5% in the first quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after buying an additional 233 shares during the last quarter.

CarMax Trading Down 0.2%

Shares of CarMax stock opened at $60.32 on Wednesday. CarMax, Inc. has a 52-week low of $54.53 and a 52-week high of $91.25. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The company’s 50-day simple moving average is $60.05 and its 200-day simple moving average is $65.97. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the business posted $0.97 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insiders Place Their Bets

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the transaction, the executive vice president directly owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $92.00 target price on shares of CarMax in a report on Monday, June 23rd. Evercore ISI reduced their target price on shares of CarMax from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Benchmark assumed coverage on shares of CarMax in a report on Thursday, July 17th. They issued a “buy” rating and a $75.00 target price for the company. Mizuho reduced their target price on shares of CarMax from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, July 3rd. Finally, Morgan Stanley assumed coverage on shares of CarMax in a report on Tuesday, July 1st. They issued an “overweight” rating and a $80.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.50.

About CarMax

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.