Banyan Capital Management Inc. Has $7.98 Million Stake in CarMax, Inc. $KMX

Banyan Capital Management Inc. raised its stake in CarMax, Inc. (NYSE:KMX) by 26.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,870 shares of the company’s stock after purchasing an additional 37,043 shares during the quarter. CarMax accounts for about 3.6% of Banyan Capital Management Inc.’s portfolio, making the stock its 13th biggest position. Banyan Capital Management Inc. owned approximately 0.12% of CarMax worth $7,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after acquiring an additional 161 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of CarMax by 12.5% in the first quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock valued at $411,000 after purchasing an additional 585 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of CarMax by 61.7% during the first quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after purchasing an additional 7,307 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of CarMax during the first quarter valued at about $727,000.

Analysts Set New Price Targets

KMX has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. Evercore ISI reaffirmed a “reduce” rating and issued a $36.00 target price on shares of CarMax in a report on Friday, December 19th. Zacks Research upgraded CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Truist Financial boosted their price objective on CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of CarMax in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $39.64.

CarMax Price Performance

CarMax stock opened at $45.50 on Friday. The business’s 50 day simple moving average is $41.63 and its 200 day simple moving average is $48.07. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $89.47. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.13 and a beta of 1.29. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.11. The firm had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. Sell-side analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.