New York State Teachers Retirement System Has $6.39 Million Stock Position in CarMax, Inc. $KMX

Key Points

• New York State Teachers Retirement System raised its CarMax stake by 19.7% to 165,243 shares — about 0.12% of the company worth roughly $6.39 million at quarter-end.
• Several large institutions also materially increased holdings — notably Arrowstreet (+73.7% to 3.52M shares), Vulcan (+135.2% to 2.33M) and Dimensional (+33.2% to 3.69M) — indicating significant institutional accumulation.
• Analyst views are mixed: the consensus rating is Reduce with an average price target of $41.21, while CarMax recently beat quarterly revenue and EPS estimates despite year-over-year EPS weakness and a share price near $37.24.

New York State Teachers Retirement System lifted its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,243 shares of the company's stock after buying an additional 27,146 shares during the period. New York State Teachers Retirement System owned about 0.12% of CarMax worth $6,385,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its stake in CarMax by 73.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company's stock valued at $158,074,000 after purchasing an additional 1,494,205 shares during the last quarter. Vulcan Value Partners LLC lifted its holdings in CarMax by 135.2% during the 3rd quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company's stock valued at $104,569,000 after purchasing an additional 1,338,134 shares during the last quarter. Hawk Ridge Capital Management LP acquired a new stake in CarMax during the 3rd quarter valued at $43,702,000. Dimensional Fund Advisors LP lifted its position in CarMax by 33.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company's stock worth $165,358,000 after acquiring an additional 918,553 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in CarMax by 222.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 853,964 shares of the company's stock worth $57,395,000 after acquiring an additional 588,901 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on KMX shares. Argus upgraded shares of CarMax to a "hold" rating in a research report on Thursday, April 16th. Barclays cut their price objective on shares of CarMax from $28.00 to $26.00 and set an "underweight" rating for the company in a research report on Thursday, April 16th. Bank of America started coverage on shares of CarMax in a research report on Wednesday, April 15th. They set an "underperform" rating and a $40.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on CarMax from $28.00 to $35.00 and gave the stock an "underweight" rating in a report on Wednesday, April 15th. Finally, Evercore set a $45.00 target price on CarMax in a report on Friday, April 10th. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $41.21.

CarMax Stock Performance

Shares of CarMax stock opened at $37.24 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 2.20 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $71.99. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 1.37 and a beta of 1.19. The company's fifty day moving average is $41.62 and its 200 day moving average is $41.46.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.12. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The company had revenue of $5.95 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. CarMax's revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts forecast that CarMax, Inc. will post 2.34 EPS for the current year.

CarMax Profile

CarMax NYSE: KMX is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company's inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax's retail locations or browse the company's online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.

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