Retirement Systems of Alabama Cuts Stake in CarMax, Inc. (NYSE:KMX)

Retirement Systems of Alabama lessened its holdings in shares of CarMax, Inc. (NYSE:KMX) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,222 shares of the company’s stock after selling 495 shares during the quarter. Retirement Systems of Alabama’s holdings in CarMax were worth $2,648,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. FMR LLC raised its stake in CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after buying an additional 1,713,379 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in shares of CarMax by 299.7% during the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after acquiring an additional 1,369,986 shares in the last quarter. Holocene Advisors LP raised its position in shares of CarMax by 740.2% in the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after purchasing an additional 834,232 shares during the last quarter. Marshall Wace LLP boosted its stake in CarMax by 87.6% in the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after purchasing an additional 541,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in CarMax by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after purchasing an additional 436,342 shares during the last quarter.

CarMax Trading Up 0.0 %

CarMax stock opened at $84.27 on Friday. The firm has a market cap of $13.06 billion, a PE ratio of 31.68, a P/E/G ratio of 1.76 and a beta of 1.71. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The stock’s 50 day simple moving average is $78.77 and its two-hundred day simple moving average is $77.55. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that CarMax, Inc. will post 3.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

KMX has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Truist Financial raised their target price on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday. Stephens started coverage on CarMax in a research note on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price target on the stock. Mizuho raised their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, StockNews.com raised CarMax from a “sell” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CarMax presently has an average rating of “Hold” and an average target price of $85.17.

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.