State of Alaska Department of Revenue Cuts Stake in CarMax, Inc. $KMX

State of Alaska Department of Revenue cut its holdings in shares of CarMax, Inc. (NYSE:KMX) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,117 shares of the company’s stock after selling 905 shares during the quarter. State of Alaska Department of Revenue’s holdings in CarMax were worth $1,150,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in KMX. Zions Bancorporation National Association UT bought a new stake in CarMax in the first quarter worth $27,000. Accent Capital Management LLC purchased a new position in shares of CarMax in the first quarter worth about $34,000. Strengthening Families & Communities LLC lifted its stake in shares of CarMax by 93.1% in the 1st 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. Quarry LP boosted its holdings in CarMax by 50.5% during the 1st quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after acquiring an additional 233 shares during the period. Finally, Blue Trust Inc. boosted its holdings in CarMax by 49.2% during the 1st quarter. Blue Trust Inc. now owns 898 shares of the company’s stock valued at $70,000 after acquiring an additional 296 shares during the period.

CarMax Stock Up 0.8%

Shares of CarMax stock opened at $46.42 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 12-month low of $42.75 and a 12-month high of $91.25. The company has a market cap of $6.82 billion, a P/E ratio of 13.61, a PEG ratio of 0.87 and a beta of 1.27. The company’s fifty day simple moving average is $56.99 and its two-hundred day simple moving average is $63.90.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on KMX shares. Stephens lowered their price objective on CarMax from $74.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Truist Financial lowered their price target on shares of CarMax from $74.00 to $47.00 and set a “hold” rating for the company in a report on Friday, September 26th. Benchmark began coverage on shares of CarMax in a research report on Thursday, July 17th. They set a “buy” rating and a $75.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of CarMax in a research report on Saturday, September 27th. Finally, Wedbush downgraded shares of CarMax from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $84.00 to $54.00 in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, CarMax currently has an average rating of “Hold” and an average price target of $56.58.

CarMax Company Profile

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.