New York State Teachers Retirement System Sells 6,845 Shares of CarMax, Inc. (NYSE:KMX)

New York State Teachers Retirement System lessened its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,605 shares of the company's stock after selling 6,845 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of CarMax worth $9,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of KMX. Sequoia Financial Advisors LLC raised its holdings in shares of CarMax by 10.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after acquiring an additional 307 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of CarMax by 36.6% in the fourth quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock worth $426,000 after purchasing an additional 1,396 shares during the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in CarMax by 128.6% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 8,793 shares of the company's stock valued at $719,000 after purchasing an additional 4,947 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in CarMax by 3.5% during the first quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock valued at $4,726,000 after purchasing an additional 2,078 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of CarMax by 12.6% during the 1st quarter. GAMMA Investing LLC now owns 6,620 shares of the company's stock valued at $516,000 after buying an additional 742 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley began coverage on CarMax in a research note on Tuesday. They issued an "overweight" rating and a $80.00 target price on the stock. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Truist Financial upped their price objective on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. Royal Bank Of Canada upped their price target on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, June 23rd. Finally, Wall Street Zen upgraded CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $84.45.

Insider Transactions at CarMax

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

CarMax Trading Down 2.3%

Shares of KMX traded down $1.64 during mid-day trading on Friday, hitting $69.94. 1,313,519 shares of the company's stock traded hands, compared to its average volume of 2,395,192. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a 1 year low of $61.34 and a 1 year high of $91.25. The firm has a market capitalization of $10.50 billion, a P/E ratio of 19.32, a PEG ratio of 1.15 and a beta of 1.38. The business's 50-day moving average price is $66.28 and its 200-day moving average price is $74.29.

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

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.