Banyan Capital Management Inc. Has $7.16 Million Stake in CarMax, Inc. $KMX

Banyan Capital Management Inc. lifted its stake in CarMax, Inc. (NYSE:KMX) by 17.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 172,211 shares of the company’s stock after acquiring an additional 25,963 shares during the period. CarMax accounts for about 3.1% of Banyan Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. Banyan Capital Management Inc. owned approximately 0.12% of CarMax worth $7,161,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in CarMax in the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of CarMax in the second quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new stake in shares of CarMax in the third quarter worth $32,000. Finally, Commonwealth Retirement Investments LLC bought a new position in CarMax during the fourth quarter worth $33,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group increased their price target on shares of CarMax from $42.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Robert W. Baird raised their target price on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Argus upgraded shares of CarMax to a “hold” rating in a research note on Thursday, April 16th. Bank of America upped their target price on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Wednesday, June 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of CarMax in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $47.73.

CarMax Trading Up 5.0%

KMX stock traded up $2.55 during midday trading on Friday, hitting $53.56. 2,287,836 shares of the company’s stock were exchanged, compared to its average volume of 3,722,328. CarMax, Inc. has a one year low of $30.26 and a one year high of $66.40. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. The company has a market cap of $7.60 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17. The stock’s fifty day moving average price is $45.95 and its 200-day moving average price is $43.90.

CarMax (NYSE:KMX) last announced its earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.96 by $0.35. The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 earnings per share. Research analysts predict that CarMax, Inc. will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CarMax news, Director Peter J. Bensen purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the purchase, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $53.01 per share, with a total value of $498,294.00. Following the completion of the transaction, the chief executive officer owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 13,900 shares of company stock valued at $735,574. 1.01% of the stock is owned by insiders.

CarMax Profile

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.