Retirement Systems of Alabama Trims Stake in CarMax, Inc. (NYSE:KMX)

Retirement Systems of Alabama cut its position in shares of CarMax, Inc. (NYSE:KMX) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,222 shares of the company’s stock after selling 495 shares during the period. Retirement Systems of Alabama’s holdings in CarMax were worth $2,648,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC bought a new stake in CarMax in the third quarter worth about $6,942,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of CarMax by 3.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock worth $27,188,000 after buying an additional 10,898 shares during the period. Eagle Rock Investment Company LLC bought a new stake in shares of CarMax during the 3rd quarter worth approximately $747,000. Neo Ivy Capital Management purchased a new position in CarMax during the 3rd quarter valued at $3,934,000. Finally, iSAM Funds UK Ltd bought a new position in CarMax in the 3rd quarter valued at $537,000.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Friday. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday. Needham & Company LLC upped their target price on shares of CarMax from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada raised their target price on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.17.

CarMax Stock Up 0.0 %

CarMax stock opened at $84.27 on Friday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The firm has a market cap of $13.06 billion, a P/E ratio of 31.68, a P/E/G ratio of 1.76 and a beta of 1.71. The business has a fifty day moving average of $78.77 and a two-hundred day moving average of $77.55. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that CarMax, Inc. will post 3.01 earnings per share for the current fiscal year.

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.