State Treasurer State of Michigan Sells 600 Shares of CarMax Inc (NYSE:KMX)

State Treasurer State of Michigan decreased its position in shares of CarMax Inc (NYSE:KMX) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,905 shares of the company’s stock after selling 600 shares during the period. State Treasurer State of Michigan’s holdings in CarMax were worth $3,841,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock worth $656,668,000 after buying an additional 10,752,554 shares during the last quarter. William Blair Investment Management LLC purchased a new position in CarMax during the first quarter worth about $47,370,000. Marathon Asset Management LLP boosted its position in CarMax by 68.5% in the second quarter. Marathon Asset Management LLP now owns 754,913 shares of the company’s stock worth $47,605,000 after buying an additional 306,901 shares during the period. Morgan Stanley boosted its position in CarMax by 156.4% in the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock worth $27,019,000 after buying an additional 278,328 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in CarMax by 42.2% in the first quarter. Russell Investments Group Ltd. now owns 869,717 shares of the company’s stock worth $51,505,000 after buying an additional 258,213 shares during the period.

CarMax Inc (KMX) opened at 66.73 on Thursday. The company has a 50-day moving average of $63.08 and a 200 day moving average of $62.83. CarMax Inc has a 52-week low of $47.50 and a 52-week high of $69.11. The company has a market cap of $12.23 billion, a PE ratio of 19.16 and a beta of 1.34.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.15. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. CarMax’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. Equities research analysts predict that CarMax Inc will post $3.70 EPS for the current year.

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A number of research analysts have recently issued reports on KMX shares. Zacks Investment Research upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. ValuEngine cut shares of CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Wedbush upgraded shares of CarMax from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $60.00 to $70.00 in a research note on Thursday, May 18th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $70.00 target price (up previously from $66.00) on shares of CarMax in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG cut their target price on shares of CarMax from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $69.00.

In related news, EVP Edwin J. Hill sold 35,497 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $65.69, for a total transaction of $2,331,797.93. Following the sale, the executive vice president now owns 40,289 shares of the company’s stock, valued at approximately $2,646,584.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric M. Margolin sold 18,659 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $64.06, for a total transaction of $1,195,295.54. Following the sale, the executive vice president now directly owns 47,163 shares in the company, valued at approximately $3,021,261.78. The disclosure for this sale can be found here. Insiders have sold a total of 165,994 shares of company stock worth $10,590,051 in the last ninety days. 1.70% of the stock is currently owned by insiders.

About CarMax

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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Institutional Ownership by Quarter for CarMax (NYSE:KMX)

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