Teacher Retirement System of Texas Invests $1.75 Million in CarMax, Inc. (NYSE:KMX)

Teacher Retirement System of Texas acquired a new stake in CarMax, Inc. (NYSE:KMX - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,495 shares of the company's stock, valued at approximately $1,753,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of CarMax in the fourth quarter valued at $53,000. Colonial Trust Co SC grew its stake in shares of CarMax by 2,310.0% in the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after acquiring an additional 693 shares in the last quarter. Blue Trust Inc. grew its stake in shares of CarMax by 49.2% in the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock valued at $70,000 after acquiring an additional 296 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of CarMax by 38.4% in the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock valued at $73,000 after acquiring an additional 260 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in shares of CarMax by 123.8% in the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock valued at $81,000 after acquiring an additional 551 shares in the last quarter.

Insider Transactions at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the sale, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mitchell D. Steenrod purchased 1,300 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were bought at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director owned 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on KMX. Robert W. Baird decreased their price target on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Mizuho reduced their price target on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. JPMorgan Chase & Co. reduced their price target on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and set a $92.00 price target on shares of CarMax in a report on Monday, June 23rd. Finally, Evercore ISI lowered their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $84.45.

CarMax Stock Performance

Shares of NYSE KMX traded down $2.57 during mid-day trading on Friday, reaching $64.37. 3,030,288 shares of the company's stock were exchanged, compared to its average volume of 2,408,284. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25. The firm has a 50-day moving average price of $66.46 and a two-hundred day moving average price of $73.64. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.04 and a beta of 1.38. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The business had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the previous year, the business posted $0.97 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. Analysts predict that CarMax, Inc. will post 3.23 EPS 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.