Banyan Capital Management Inc. Acquires 37,043 Shares of CarMax, Inc. $KMX

Banyan Capital Management Inc. increased its holdings in CarMax, Inc. (NYSE:KMX) by 26.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 177,870 shares of the company’s stock after purchasing an additional 37,043 shares during the period. CarMax accounts for 3.6% of Banyan Capital Management Inc.’s investment portfolio, making the stock its 13th largest holding. Banyan Capital Management Inc.’s holdings in CarMax were worth $7,981,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after acquiring an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after purchasing an additional 173 shares during the period. WCM Investment Management LLC grew its holdings in CarMax by 0.5% during the 2nd quarter. WCM Investment Management LLC now owns 38,991 shares of the company’s stock valued at $2,597,000 after buying an additional 197 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of CarMax by 1.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,924 shares of the company’s stock valued at $734,000 after buying an additional 198 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of CarMax by 0.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 31,245 shares of the company’s stock worth $2,081,000 after buying an additional 206 shares in the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial increased their target price on shares of CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. lowered their price target on CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. Mizuho cut their price objective on CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Morgan Stanley set a $35.00 price target on shares of CarMax in a research note on Monday, December 8th. Finally, Benchmark restated a “hold” rating on shares of CarMax in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CarMax presently has a consensus rating of “Reduce” and an average price target of $39.64.

CarMax Trading Down 3.1%

KMX stock opened at $45.50 on Friday. The company has a market capitalization of $6.45 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.13 and a beta of 1.29. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. CarMax, Inc. has a one year low of $30.26 and a one year high of $89.47. The company’s 50 day moving average price is $41.63 and its two-hundred day moving average price is $48.07.

CarMax (NYSE:KMX) last released its earnings results on Thursday, December 18th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. The company had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.66 billion. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. As a group, analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal 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.