Kentucky Retirement Systems Decreases Holdings in CarMax, Inc. (NYSE:KMX)

Kentucky Retirement Systems trimmed its position in shares of CarMax, Inc. (NYSE:KMX) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,726 shares of the company’s stock after selling 147 shares during the period. Kentucky Retirement Systems’ holdings in CarMax were worth $877,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Lakewood Asset Management LLC raised its holdings in shares of CarMax by 0.6% during the 4th quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company’s stock valued at $1,778,000 after buying an additional 135 shares in the last quarter. Arete Wealth Advisors LLC raised its holdings in shares of CarMax by 4.3% during the 3rd quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company’s stock valued at $266,000 after buying an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of CarMax by 3.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company’s stock valued at $383,000 after buying an additional 141 shares in the last quarter. Timber Creek Capital Management LLC increased its stake in CarMax by 0.3% in the 4th quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company’s stock worth $4,709,000 after purchasing an additional 145 shares during the period. Finally, Chemistry Wealth Management LLC increased its stake in CarMax by 1.4% in the 4th quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company’s stock worth $999,000 after purchasing an additional 164 shares during the period.

CarMax Price Performance

KMX opened at $82.82 on Tuesday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25. The stock has a market capitalization of $12.74 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.67 and a beta of 1.72. The stock’s 50 day moving average price is $83.33 and its 200-day moving average price is $80.20.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Activity at CarMax

In related news, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William D. Nash sold 120,513 shares of CarMax stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total value of $10,031,502.12. Following the sale, the chief executive officer now owns 181,683 shares in the company, valued at $15,123,292.92. This represents a 39.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 264,467 shares of company stock worth $21,915,445 over the last ninety days. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on KMX shares. Evercore ISI raised CarMax from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $90.00 to $110.00 in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price target on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Needham & Company LLC lifted their price target on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Stephens started coverage on CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target on the stock. Finally, Mizuho lifted their price target on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $87.50.

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.