Arizona State Retirement System Buys 282 Shares of CarMax, Inc. (NYSE:KMX)

Arizona State Retirement System increased its stake in shares of CarMax, Inc. (NYSE:KMX) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,998 shares of the company’s stock after purchasing an additional 282 shares during the quarter. Arizona State Retirement System’s holdings in CarMax were worth $3,679,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. First Hawaiian Bank purchased a new stake in shares of CarMax during the fourth quarter valued at about $273,000. World Investment Advisors LLC bought a new position in shares of CarMax during the 3rd quarter worth approximately $6,942,000. Sumitomo Mitsui Trust Group Inc. lifted its position in CarMax by 3.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock valued at $27,188,000 after acquiring an additional 10,898 shares during the last quarter. HF Advisory Group LLC boosted its stake in CarMax by 12.6% in the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company’s stock valued at $2,354,000 after acquiring an additional 3,222 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in CarMax in the fourth quarter worth $600,000.

Analysts Set New Price Targets

Several brokerages have recently commented on KMX. JPMorgan Chase & Co. increased their price objective on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Royal Bank of Canada increased their price target on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Truist Financial increased their price objective on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Finally, Mizuho boosted their target price on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.91.

Insider Transactions at CarMax

In other CarMax news, EVP Mohammad Shamim sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.77, for a total value of $837,700.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $983,292.26. The trade was a 46.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tyler Tuite sold 4,869 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,467 shares of company stock worth $21,915,445 over the last quarter. 1.66% of the stock is currently owned by insiders.

CarMax Stock Performance

Shares of NYSE KMX opened at $76.75 on Monday. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.67 and a beta of 1.76. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a 50 day simple moving average of $82.74 and a two-hundred day simple moving average of $80.35. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

CarMax 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.