State of New Jersey Common Pension Fund D Sells 29,236 Shares of CarMax, Inc. (NYSE:KMX)

State of New Jersey Common Pension Fund D cut its position in CarMax, Inc. (NYSE:KMX) by 32.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,066 shares of the company’s stock after selling 29,236 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CarMax were worth $4,479,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KMX. First Community Trust NA bought a new position in CarMax in the second quarter worth about $29,000. Blue Trust Inc. raised its holdings in CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after purchasing an additional 287 shares in the last quarter. Studio Investment Management LLC raised its holdings in CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after purchasing an additional 334 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of CarMax during the first quarter valued at about $55,000. Finally, First Financial Corp IN increased its holdings in shares of CarMax by 127.2% during the first quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock valued at $91,000 after acquiring an additional 585 shares in the last quarter.

Insiders Place Their Bets

In other CarMax news, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the transaction, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,243 shares of company stock worth $14,893,042. Corporate insiders own 1.66% of the company’s stock.

Wall Street Analyst Weigh In

KMX has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Truist Financial upped their price objective on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday, June 24th. StockNews.com upgraded shares of CarMax to a “sell” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Finally, Argus upgraded shares of CarMax to a “hold” rating in a report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $76.25.

CarMax Trading Up 0.3 %

CarMax stock opened at $79.04 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The stock’s 50 day simple moving average is $80.26 and its two-hundred day simple moving average is $76.53. The firm has a market cap of $12.34 billion, a PE ratio of 30.88, a P/E/G ratio of 1.53 and a beta of 1.69.

CarMax (NYSE:KMX) last released its quarterly earnings data on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. Analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current year.

CarMax Company Profile

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.