Maryland State Retirement & Pension System Acquires 12,656 Shares of CarMax, Inc. $KMX

Maryland State Retirement & Pension System raised its holdings in CarMax, Inc. (NYSE:KMX) by 45.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,528 shares of the company’s stock after purchasing an additional 12,656 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CarMax were worth $2,233,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. IFP Advisors Inc grew its holdings in shares of CarMax by 9.8% during the third quarter. IFP Advisors Inc now owns 2,348 shares of the company’s stock worth $129,000 after buying an additional 210 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in CarMax by 5.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,460 shares of the company’s stock valued at $269,000 after acquiring an additional 311 shares during the period. Basecamp Wealth Advisors LLC increased its position in CarMax by 105.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 327 shares during the period. Verus Financial Partners Inc. increased its position in CarMax by 7.0% in the 3rd quarter. Verus Financial Partners Inc. now owns 5,026 shares of the company’s stock valued at $277,000 after acquiring an additional 330 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in CarMax by 15.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,888 shares of the company’s stock valued at $159,000 after acquiring an additional 384 shares during the last quarter.

CarMax Stock Performance

CarMax stock traded up $0.56 during trading hours on Friday, reaching $53.14. 2,210,314 shares of the stock were exchanged, compared to its average volume of 2,454,000. The stock has a market cap of $7.54 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.42 and a beta of 1.22. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.57 and a current ratio of 2.33. CarMax, Inc. has a 52-week low of $31.95 and a 52-week high of $65.28. The firm’s 50 day moving average is $55.35 and its 200 day moving average is $49.79.

CarMax (NYSE:KMX) last released its earnings results on Tuesday, September 29th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.73 by $0.43. The company had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.09 billion. CarMax had a net margin of 1.06% and a return on equity of 7.76%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. Analysts predict that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on KMX. Stephens upped their price objective on CarMax from $66.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. BNP Paribas Exane reiterated a “strong sell” rating and issued a $48.00 target price (up from $33.00) on shares of CarMax in a research note on Wednesday, September 30th. Bank of America upgraded CarMax from an “underperform” rating to a “buy” rating and lifted their target price for the company from $50.00 to $65.00 in a research note on Thursday, October 15th. Truist Financial boosted their target price on CarMax from $50.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, September 30th. Finally, Robert W. Baird upped their price target on CarMax from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.00.

CarMax Company Profile

CarMax, Inc. is a U.S. used-vehicle retailer headquartered in Richmond, Virginia. The company sells used cars, trucks and SUVs through a network of retail stores and online platforms, where customers can browse vehicles and complete parts of the buying process digitally. In addition to retail sales, CarMax buys vehicles from consumers and operates wholesale auctions for vehicles that are not sold through its retail stores. Its related services include vehicle financing through CarMax Auto Finance and optional vehicle protection products.