CarMax, Inc (NYSE:KMX) Stock Position Lessened by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio decreased its holdings in CarMax, Inc (NYSE:KMX) by 30.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,407 shares of the company’s stock after selling 22,617 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CarMax were worth $4,550,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Brookstone Capital Management acquired a new stake in shares of CarMax in the second quarter valued at $290,000. Gilbert & Cook Inc. acquired a new stake in shares of CarMax in the first quarter valued at $201,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of CarMax in the second quarter valued at $379,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of CarMax by 20.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 68,207 shares of the company’s stock valued at $4,761,000 after buying an additional 11,478 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in shares of CarMax in the second quarter valued at $40,215,000.
Several analysts have recently weighed in on the company. Northcoast Research lowered CarMax from a “buy” rating to a “neutral” rating and set a $86.50 price objective for the company. in a report on Friday, June 28th. Guggenheim upped their price objective on CarMax from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, June 24th. They noted that the move was a valuation call. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Buckingham Research lowered CarMax from a “buy” rating to a “neutral” rating and upped their price objective for the company from $81.00 to $94.00 in a report on Monday, June 24th. They noted that the move was a valuation call. Finally, Bank of America upped their price objective on CarMax from $95.00 to $112.00 in a report on Monday, June 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $94.12.
CarMax (NYSE:KMX) last announced its earnings results on Friday, June 21st. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.49 by $0.10. CarMax had a return on equity of 25.37% and a net margin of 4.64%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the business posted $1.33 earnings per share. CarMax’s revenue was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that CarMax, Inc will post 5.26 EPS for the current year.
In related news, COO Edwin J. Hill sold 81,959 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $84.19, for a total value of $6,900,128.21. Following the completion of the sale, the chief operating officer now directly owns 90,529 shares of the company’s stock, valued at approximately $7,621,636.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric M. Margolin sold 37,264 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $84.39, for a total value of $3,144,708.96. Following the completion of the sale, the executive vice president now directly owns 21,767 shares of the company’s stock, valued at $1,836,917.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 377,047 shares of company stock valued at $31,898,938. 2.09% of the stock is currently owned by company insiders.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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