Public Employees Retirement System of Ohio Buys Shares of 40,336 CarMax, Inc. $KMX

Public Employees Retirement System of Ohio purchased a new stake in CarMax, Inc. (NYSE:KMX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 40,336 shares of the company’s stock, valued at approximately $2,133,000.

A number of other hedge funds have also modified their holdings of the business. CYBER HORNET ETFs LLC purchased a new stake in CarMax in the 2nd quarter valued at about $28,000. MUFG Securities EMEA plc purchased a new position in CarMax during the second quarter worth about $30,000. Global Retirement Partners LLC purchased a new position in CarMax during the second quarter worth about $29,000. Basecamp Wealth Advisors LLC increased its position in shares of CarMax by 105.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 327 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the last quarter.

Insider Activity at CarMax

In related news, CEO Keith Barr purchased 9,400 shares of CarMax stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $53.01 per share, with a total value of $498,294.00. Following the transaction, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sona Chawla acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $53.39 per share, with a total value of $106,780.00. Following the purchase, the director directly owned 21,702 shares in the company, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 13,900 shares of company stock worth $735,574. Company insiders own 1.01% of the company’s stock.

CarMax Trading Down 0.1%

Shares of KMX stock opened at $63.24 on Monday. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $65.28. The company has a 50 day moving average price of $57.78 and a 200 day moving average price of $48.25. The stock has a market capitalization of $8.97 billion, a P/E ratio of 41.33, a price-to-earnings-growth ratio of 2.90 and a beta of 1.17. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the prior year, the business earned $1.38 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that CarMax, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on KMX. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective on the stock in a report on Thursday, June 18th. Morgan Stanley boosted their target price on CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 23rd. Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $37.00 to $61.00 in a research note on Tuesday, July 21st. Mizuho raised their price target on CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Finally, Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.00.

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.