CarMax, Inc. (NYSE:KMX) Shares Sold by New York State Teachers Retirement System

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its stake in shares of CarMax by 5.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after purchasing an additional 176 shares during the period. Parallel Advisors LLC raised its holdings in CarMax by 38.4% during the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock worth $73,000 after purchasing an additional 260 shares during the last quarter. Arizona State Retirement System raised its holdings in CarMax by 0.6% during the fourth quarter. Arizona State Retirement System now owns 44,998 shares of the company's stock worth $3,679,000 after purchasing an additional 282 shares during the last quarter. Blue Trust Inc. raised its holdings in CarMax by 49.2% during the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after purchasing an additional 296 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in CarMax by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 55,680 shares of the company's stock valued at $4,552,000 after acquiring an additional 349 shares during the last quarter.

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of research reports. Mizuho lowered their price objective 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. Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Truist Financial boosted their price target on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a report on Monday, June 23rd. Cfra Research raised CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. cut their price target on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CarMax currently has an average rating of "Moderate Buy" and a consensus price target of $84.45.

CarMax Trading Down 0.6%

Shares of KMX traded down $0.40 during mid-day trading on Tuesday, hitting $68.38. The company had a trading volume of 3,063,149 shares, compared to its average volume of 2,403,053. The business's 50-day simple moving average is $66.43 and its 200-day simple moving average is $74.03. 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 stock has a market cap of $10.26 billion, a PE ratio of 18.89, a P/E/G ratio of 1.12 and a beta of 1.38.

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

Insiders Place Their Bets

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction 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 completion of the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mitchell D. Steenrod acquired 1,300 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was acquired at an average cost of $65.49 per share, with a total value of $85,137.00. Following the acquisition, the director owned 33,577 shares of the company's stock, valued at $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. 1.70% of the stock is currently owned by insiders.

About CarMax

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.