Kentucky Retirement Systems Acquires New Stake in CarMax, Inc. $KMX

Kentucky Retirement Systems bought a new position in shares of CarMax, Inc. (NYSE:KMX) in the 1st quarter, HoldingsChannel.com reports. The firm bought 18,440 shares of the company’s stock, valued at approximately $767,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Huntington National Bank increased its stake in CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of CarMax during the 2nd quarter valued at about $28,000. MUFG Securities EMEA plc bought a new stake in shares of CarMax during the 2nd quarter valued at about $30,000. Advisory Services Network LLC purchased a new position in shares of CarMax during the third quarter worth about $32,000. Finally, Commonwealth Retirement Investments LLC purchased a new position in shares of CarMax during the fourth quarter worth about $33,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KMX shares. Mizuho upped their price objective on shares of CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Evercore set a $45.00 target price on shares of CarMax in a research report on Friday, April 10th. Barclays raised shares of CarMax from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $37.00 to $61.00 in a research note on Tuesday, July 21st. Morgan Stanley increased their price target on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Finally, Benchmark restated a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $51.00.

Insider Buying and Selling at CarMax

In other CarMax news, Director Peter J. Bensen acquired 2,500 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the acquisition, the director owned 24,796 shares in the company, valued at $1,294,351.20. The trade was a 11.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Keith Barr acquired 9,400 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $53.01 per share, with a total value of $498,294.00. Following the purchase, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. This represents a 39.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 13,900 shares of company stock worth $735,574 over the last ninety days. Insiders own 1.01% of the company’s stock.

CarMax Price Performance

Shares of CarMax stock opened at $57.33 on Friday. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. The firm has a market capitalization of $8.14 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17. The business’s 50-day moving average price is $51.74 and its 200-day moving average price is $45.73. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $62.56.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The company had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.38 EPS. Sell-side analysts forecast that CarMax, Inc. will post 2.7 EPS for the current fiscal 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.