CarMax, Inc (KMX) Position Reduced by State Treasurer State of Michigan
State Treasurer State of Michigan decreased its position in shares of CarMax, Inc (NYSE:KMX) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,405 shares of the company’s stock after selling 2,200 shares during the period. State Treasurer State of Michigan’s holdings in CarMax were worth $3,425,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Cerebellum GP LLC bought a new stake in CarMax during the fourth quarter worth approximately $121,000. Tredje AP fonden bought a new stake in CarMax during the third quarter worth approximately $144,000. QS Investors LLC raised its holdings in CarMax by 1.0% during the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after purchasing an additional 22 shares in the last quarter. Commerce Bank bought a new stake in CarMax during the third quarter worth approximately $203,000. Finally, Dai Ichi Life Insurance Company Ltd bought a new position in shares of CarMax in the third quarter valued at $206,000.
In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of CarMax stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $68.72, for a total transaction of $549,760.00. Following the transaction, the director now directly owns 447,572 shares in the company, valued at approximately $30,757,147.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Darren C. Newberry sold 6,584 shares of CarMax stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $72.61, for a total transaction of $478,064.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,584 shares of company stock worth $5,226,064. Corporate insiders own 1.70% of the company’s stock.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 21st. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). CarMax had a return on equity of 21.77% and a net margin of 4.07%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. equities analysts anticipate that CarMax, Inc will post 3.84 earnings per share for the current year.
Several research analysts have issued reports on KMX shares. Credit Suisse Group raised CarMax to a “buy” rating and set a $83.00 price target on the stock in a report on Monday, December 25th. Deutsche Bank cut CarMax from a “buy” rating to a “hold” rating and set a $76.00 price target on the stock. in a report on Friday, November 17th. Northcoast Research raised CarMax from a “neutral” rating to a “buy” rating in a report on Thursday, December 14th. Berenberg Bank raised CarMax from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Monday, January 8th. Finally, Zacks Investment Research cut CarMax from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $79.68.
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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