Louisiana State Employees Retirement System reduced its stake in shares of CarMax Inc. (NYSE:KMX) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 12,700 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in CarMax were worth $623,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Shell Asset Management Co. raised its stake in shares of CarMax by 27.2% in the second quarter. Shell Asset Management Co. now owns 14,342 shares of the company’s stock valued at $703,000 after buying an additional 3,064 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in CarMax by 45.1% in the second quarter. Daiwa Securities Group Inc. now owns 89,100 shares of the company’s stock worth $4,369,000 after buying an additional 27,700 shares during the last quarter. Athena Capital Advisors LLC raised its stake in CarMax by 11.9% in the second quarter. Athena Capital Advisors LLC now owns 17,947 shares of the company’s stock worth $880,000 after buying an additional 1,907 shares during the last quarter. CIBC World Markets Inc. bought a new stake in CarMax during the second quarter worth about $774,000. Finally, First Quadrant L P CA bought a new stake in CarMax during the second quarter worth about $883,000.
Shares of CarMax Inc. (NYSE:KMX) traded down 0.50% during midday trading on Friday, reaching $51.25. The company had a trading volume of 2,190,185 shares. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 16.66 and a beta of 1.42. CarMax Inc. has a 52 week low of $41.25 and a 52 week high of $60.81. The stock has a 50-day moving average of $55.32 and a 200 day moving average of $53.81.
CarMax (NYSE:KMX) last released its earnings results on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.11 billion. CarMax had a return on equity of 20.92% and a net margin of 3.95%. CarMax’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. On average, analysts anticipate that CarMax Inc. will post $3.28 earnings per share for the current year.
KMX has been the topic of a number of analyst reports. Buckingham Research lowered CarMax from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $59.00 to $63.00 in a research note on Friday, September 9th. They noted that the move was a valuation call. Vetr lowered CarMax from a “buy” rating to a “hold” rating and set a $57.52 price objective on the stock. in a research note on Monday, September 12th. Goldman Sachs Group Inc. set a $63.00 price objective on CarMax and gave the company a “buy” rating in a research note on Monday, September 19th. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, September 13th. Finally, Susquehanna initiated coverage on CarMax in a research note on Thursday, August 25th. They set a “positive” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $62.01.
In other CarMax news, CEO Thomas J. Folliard sold 271,435 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $55.39, for a total transaction of $15,034,784.65. Following the sale, the chief executive officer now directly owns 758,517 shares of the company’s stock, valued at $42,014,256.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Eric M. Margolin sold 12,639 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $60.21, for a total value of $760,994.19. Following the sale, the executive vice president now directly owns 38,303 shares in the company, valued at $2,306,223.63. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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