State Treasurer State of Michigan reduced its position in shares of CarMax Inc. (NYSE:KMX) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,869 shares of the company’s stock after selling 500 shares during the period. State Treasurer State of Michigan’s holdings in CarMax were worth $3,567,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Conning Inc. raised its position in shares of CarMax by 0.6% in the third quarter. Conning Inc. now owns 4,829 shares of the company’s stock valued at $258,000 after buying an additional 30 shares during the last quarter. World Asset Management Inc raised its position in shares of CarMax by 0.3% in the second quarter. World Asset Management Inc now owns 19,322 shares of the company’s stock valued at $947,000 after buying an additional 59 shares during the last quarter. Capital One National Association raised its position in shares of CarMax by 0.7% in the third quarter. Capital One National Association now owns 12,596 shares of the company’s stock valued at $672,000 after buying an additional 86 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of CarMax by 1.2% in the third quarter. Eqis Capital Management Inc. now owns 7,475 shares of the company’s stock valued at $399,000 after buying an additional 92 shares during the last quarter. Finally, Gagnon Securities LLC raised its position in shares of CarMax by 0.4% in the second quarter. Gagnon Securities LLC now owns 24,875 shares of the company’s stock valued at $1,220,000 after buying an additional 98 shares during the last quarter.

Institutional Ownership by Quarter for CarMax (NYSE:KMX)

CarMax Inc. (NYSE:KMX) traded up 0.24% during mid-day trading on Tuesday, reaching $57.51. The company’s stock had a trading volume of 1,141,598 shares. CarMax Inc. has a 1-year low of $41.25 and a 1-year high of $60.81. The stock’s 50 day moving average price is $52.62 and its 200 day moving average price is $53.96. The stock has a market capitalization of $10.95 billion, a P/E ratio of 18.70 and a beta of 1.24.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. CarMax had a return on equity of 20.92% and a net margin of 3.95%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. Analysts expect that CarMax Inc. will post $3.27 EPS for the current fiscal year.

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Several brokerages recently weighed in on KMX. Wedbush reiterated a “neutral” rating and issued a $55.00 price objective on shares of CarMax in a research report on Wednesday, November 16th. Deutsche Bank AG upgraded CarMax from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $68.00 in a research report on Monday, October 24th. Oppenheimer Holdings Inc. restated an “outperform” rating on shares of CarMax in a research report on Sunday, October 16th. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Thursday, October 6th. Finally, Goldman Sachs Group Inc. set a $63.00 price target on CarMax and gave the stock a “buy” rating in a research report on Monday, September 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $62.16.

In other CarMax news, Director Jeffrey E. Garten sold 6,300 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $53.41, for a total value of $336,483.00. Following the transaction, the director now owns 21,552 shares in the company, valued at approximately $1,151,092.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

About CarMax

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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