Texas Permanent School Fund Corp Sells 6,489 Shares of CarMax, Inc. (NYSE:KMX)

Texas Permanent School Fund Corp lessened its position in CarMax, Inc. (NYSE:KMX) by 19.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,114 shares of the company’s stock after selling 6,489 shares during the period. Texas Permanent School Fund Corp’s holdings in CarMax were worth $1,915,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. First Community Trust NA purchased a new position in CarMax during the 2nd quarter valued at about $29,000. Blue Trust Inc. raised its holdings in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares in the last quarter. Headlands Technologies LLC purchased a new stake in CarMax in the first quarter worth $55,000. First Financial Corp IN boosted its holdings in CarMax by 127.2% in 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. Finally, Cullen Frost Bankers Inc. increased its position in CarMax by 8,450.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,368 shares of the company’s stock valued at $100,000 after purchasing an additional 1,352 shares during the period.

CarMax Stock Performance

Shares of KMX opened at $79.39 on Wednesday. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The business’s fifty day simple moving average is $80.26 and its two-hundred day simple moving average is $76.53. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 1.53 and a beta of 1.69.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.16 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. CarMax’s revenue was down 7.5% on a year-over-year basis. Research analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KMX. Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of CarMax in a research note on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Evercore ISI lifted their price target on CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research report on Tuesday, July 16th. Royal Bank of Canada raised their price objective on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Finally, Argus raised shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.25.

Insider Buying and Selling

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

CarMax 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.