California Public Employees Retirement System Cuts Holdings in CarMax, Inc. $KMX

California Public Employees Retirement System decreased its position in CarMax, Inc. (NYSE:KMX) by 25.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,513 shares of the company’s stock after selling 64,055 shares during the quarter. California Public Employees Retirement System owned 0.13% of CarMax worth $7,714,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new stake in shares of CarMax during the 2nd quarter worth about $28,000. MUFG Securities EMEA plc purchased a new position in CarMax in the second quarter valued at approximately $30,000. Huntington National Bank raised its holdings in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of CarMax during the 3rd quarter worth approximately $32,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of CarMax in the 4th quarter valued at $33,000.

Analyst Upgrades and Downgrades

KMX has been the topic of several research analyst reports. Weiss Ratings upgraded shares of CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. UBS Group upped their price objective on shares of CarMax from $42.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Bank of America boosted their target price on CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Wednesday, June 17th. Finally, Royal Bank Of Canada raised their price target on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $49.33.

Insider Buying and Selling

In other news, Director Sona Chawla bought 2,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were bought at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the transaction, the director owned 21,702 shares in the company, valued at $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Keith Barr acquired 9,400 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the transaction, the chief executive officer directly owned 33,375 shares in the company, valued at approximately $1,769,208.75. This represents a 39.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 13,900 shares of company stock valued at $735,574. 1.01% of the stock is owned by insiders.

CarMax Stock Performance

NYSE KMX opened at $58.31 on Monday. The business’s 50 day moving average is $49.69 and its two-hundred day moving average is $45.21. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $62.56. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 2.70 and a beta of 1.17. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. Research analysts expect that CarMax, Inc. will post 2.7 EPS for the current year.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.