California Public Employees Retirement System Sells 9,787 Shares of CarMax, Inc. (NYSE:KMX)

California Public Employees Retirement System decreased its position in CarMax, Inc. (NYSE:KMX) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,740 shares of the company’s stock after selling 9,787 shares during the period. California Public Employees Retirement System owned approximately 0.13% of CarMax worth $16,249,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KMX. Cromwell Holdings LLC lifted its stake in shares of CarMax by 104.8% in the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after buying an additional 217 shares in the last quarter. Allworth Financial LP boosted its stake 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 purchasing an additional 249 shares during the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of CarMax in the 4th quarter worth $58,000. Farther Finance Advisors LLC raised its stake in shares of CarMax by 91.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company’s stock worth $82,000 after purchasing an additional 480 shares during the last quarter. Finally, BankPlus Trust Department bought a new position in shares of CarMax during the fourth quarter valued at $85,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KMX. Needham & Company LLC boosted their target price on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Truist Financial boosted their price objective on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, December 20th. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Evercore ISI decreased their target price on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. lowered their price target on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $90.64.

CarMax Trading Down 1.0 %

Shares of NYSE:KMX opened at $75.66 on Friday. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. The company has a market cap of $11.64 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The stock has a 50 day moving average of $80.26 and a 200 day moving average of $79.32. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

Insiders Place Their Bets

In other news, VP Jill A. Livesay sold 13,009 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total value of $1,053,729.00. Following the completion of the transaction, the vice president now owns 9,448 shares of the company’s stock, valued at $765,288. This represents a 57.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. This trade represents a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,723 shares of company stock worth $2,925,218 over the last three months. 1.66% of the stock is currently owned by company 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.