Louisiana State Employees Retirement System Takes $2.62 Million Position in CarMax, Inc. $KMX

Louisiana State Employees Retirement System purchased a new position in shares of CarMax, Inc. (NYSE:KMX) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 62,900 shares of the company’s stock, valued at approximately $2,615,000.

A number of other institutional investors have also made changes to their positions in the business. Intech Investment Management LLC raised its position in shares of CarMax by 129.4% in the third quarter. Intech Investment Management LLC now owns 86,444 shares of the company’s stock valued at $3,879,000 after purchasing an additional 48,757 shares during the period. Silver Heights Capital Management Inc grew its stake in CarMax by 39.5% in the 3rd quarter. Silver Heights Capital Management Inc now owns 926,167 shares of the company’s stock valued at $41,557,000 after buying an additional 262,478 shares during the last quarter. Freestone Capital Holdings LLC acquired a new stake in CarMax during the fourth quarter worth approximately $968,000. Dimensional Fund Advisors LP boosted its stake in CarMax by 33.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company’s stock valued at $165,358,000 after purchasing an additional 918,553 shares during the period. Finally, Rings Capital Management LLC grew its holdings in CarMax by 71.6% in the 3rd quarter. Rings Capital Management LLC now owns 1,074,000 shares of the company’s stock valued at $48,190,000 after buying an additional 448,000 shares in the last quarter.

CarMax Stock Performance

Shares of KMX stock opened at $52.72 on Monday. CarMax, Inc. has a one year low of $30.26 and a one year high of $71.99. The firm has a 50-day moving average of $43.49 and a 200-day moving average of $43.13. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The company has a market cap of $7.48 billion, a P/E ratio of 34.46, a P/E/G ratio of 1.77 and a beta of 1.21.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. Equities research analysts forecast that CarMax, Inc. will post 2.6 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, Director Peter J. Bensen purchased 2,500 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the purchase, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $53.01 per share, with a total value of $498,294.00. Following the completion of the acquisition, the chief executive officer owned 33,375 shares of the company’s stock, valued at $1,769,208.75. This trade represents a 39.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 13,900 shares of company stock worth $735,574 over the last three months. 1.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KMX shares. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a report on Wednesday, April 8th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a research report on Thursday, June 18th. JPMorgan Chase & Co. lifted their price objective on CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Thursday, June 18th. UBS Group boosted their target price on shares of CarMax from $42.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, June 23rd. Finally, Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $47.73.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.