Kentucky Retirement Systems Reduces Position in CarMax, Inc. (NYSE:KMX)

Kentucky Retirement Systems cut its stake in shares of CarMax, Inc. (NYSE:KMX) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,873 shares of the company’s stock after selling 987 shares during the quarter. Kentucky Retirement Systems’ holdings in CarMax were worth $841,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KMX. First Community Trust NA purchased a new stake in shares of CarMax during the second quarter valued at $29,000. Quarry LP grew its holdings in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after buying an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of CarMax during the third quarter valued at $32,000. Blue Trust Inc. grew its holdings in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the last quarter. Finally, Studio Investment Management LLC grew its holdings in shares of CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after buying an additional 334 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on KMX. JPMorgan Chase & Co. upped their price target on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price target on shares of CarMax in a report on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Finally, Truist Financial upped their price target on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $79.73.

CarMax Stock Down 2.3 %

KMX stock opened at $75.29 on Wednesday. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.59 and a beta of 1.68. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 12 month low of $62.90 and a 12 month high of $88.22. The firm has a 50-day moving average of $75.07 and a two-hundred day moving average of $75.61.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, analysts forecast that CarMax, Inc. will post 2.99 earnings per share 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.