State of Alaska Department of Revenue Boosts Position in CarMax, Inc. (NYSE:KMX)

State of Alaska Department of Revenue raised its stake in shares of CarMax, Inc. (NYSE:KMX) by 2.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,022 shares of the company’s stock after buying an additional 355 shares during the quarter. State of Alaska Department of Revenue’s holdings in CarMax were worth $1,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KMX. Allworth Financial LP grew its holdings in CarMax by 62.7% during the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after buying an additional 249 shares in the last quarter. Ameriflex Group Inc. purchased a new position in CarMax during the 4th quarter valued at about $53,000. Colonial Trust Co SC grew its holdings in CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company’s stock valued at $59,000 after buying an additional 693 shares in the last quarter. Parallel Advisors LLC grew its holdings in CarMax by 38.4% during the 1st quarter. Parallel Advisors LLC now owns 937 shares of the company’s stock valued at $73,000 after buying an additional 260 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in CarMax by 123.8% during the 4th quarter. True Wealth Design LLC now owns 996 shares of the company’s stock valued at $81,000 after buying an additional 551 shares in the last quarter.

CarMax Stock Up 3.2%

Shares of KMX opened at $69.30 on Wednesday. The firm has a market cap of $10.58 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.11 and a beta of 1.38. The stock has a 50 day simple moving average of $65.63 and a two-hundred day simple moving average of $75.18. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. CarMax, Inc. has a 1 year low of $61.34 and a 1 year high of $91.25.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, Director Mitchell D. Steenrod acquired 1,300 shares of the stock in a transaction on Thursday, April 24th. The stock was purchased at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director now owns 33,577 shares of the company’s stock, valued at $2,198,957.73. This trade represents a 4.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KMX. Truist Financial lifted their price target on CarMax from $72.00 to $74.00 and gave the company a “hold” rating in a research report on Monday. Evercore ISI dropped their price target on CarMax from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, May 28th. Royal Bank Of Canada lifted their price target on CarMax from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of CarMax in a research report on Wednesday, June 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $92.00 price target on shares of CarMax in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.10.

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.