CarMax, Inc. $KMX Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in CarMax, Inc. by 8.1%, selling 4,518 shares and now holding 50,925 shares valued at approximately $3.97 million.
• Insider Jon G. Daniels sold 1,540 shares of CarMax at an average price of $70.64, decreasing his holdings by 35.66%.
• Analysts have set a consensus rating of "Moderate Buy" for CarMax, with an average price target of $81.50.

State of New Jersey Common Pension Fund D cut its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,925 shares of the company's stock after selling 4,518 shares during the period. State of New Jersey Common Pension Fund D's holdings in CarMax were worth $3,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Redmond Asset Management LLC grew its holdings in CarMax by 0.3% during the first quarter. Redmond Asset Management LLC now owns 50,803 shares of the company's stock valued at $3,959,000 after purchasing an additional 152 shares during the period. American Century Companies Inc. raised its position in CarMax by 0.6% during the first quarter. American Century Companies Inc. now owns 1,175,696 shares of the company's stock valued at $91,610,000 after purchasing an additional 6,704 shares in the last quarter. Ethic Inc. grew its stake in shares of CarMax by 24.4% during the first quarter. Ethic Inc. now owns 10,268 shares of the company's stock valued at $810,000 after buying an additional 2,013 shares during the last quarter. Aberdeen Group plc grew its stake in shares of CarMax by 99.3% during the first quarter. Aberdeen Group plc now owns 110,529 shares of the company's stock valued at $8,574,000 after buying an additional 55,084 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of CarMax by 3.0% in the first quarter. Sei Investments Co. now owns 116,643 shares of the company's stock worth $9,521,000 after purchasing an additional 3,347 shares during the last quarter.

CarMax Trading Up 3.7%

NYSE KMX traded up $2.1260 during trading on Friday, hitting $60.0160. The stock had a trading volume of 1,811,819 shares, compared to its average volume of 2,813,410. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.94 and a beta of 1.36. CarMax, Inc. has a one year low of $54.53 and a one year high of $91.25. The stock has a 50 day simple moving average of $62.43 and a 200 day simple moving average of $69.00.

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, topping the consensus estimate of $1.18 by $0.20. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. Sell-side analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insider Transactions at CarMax

In related news, 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 transaction of $108,785.60. Following the transaction, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. This trade represents a 35.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on KMX. Mizuho cut their target price on CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Truist Financial upped their price objective on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research report on Monday, June 23rd. Royal Bank Of Canada boosted their target price on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Wedbush reiterated an "outperform" rating and set a $84.00 target price on shares of CarMax in a research note on Tuesday. Finally, Benchmark assumed coverage on shares of CarMax in a research note on Thursday, July 17th. They set a "buy" rating and a $75.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $81.50.

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.