Banyan Capital Management Inc. Acquires 25,963 Shares of CarMax, Inc. $KMX

Banyan Capital Management Inc. boosted its holdings in CarMax, Inc. (NYSE:KMX) by 17.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 172,211 shares of the company’s stock after acquiring an additional 25,963 shares during the period. CarMax comprises 3.1% of Banyan Capital Management Inc.’s holdings, making the stock its 13th biggest position. Banyan Capital Management Inc.’s holdings in CarMax were worth $7,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KMX. Jones Financial Companies Lllp raised its holdings in CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after acquiring an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CarMax by 0.6% in 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 purchasing an additional 173 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of CarMax by 20.0% during the 4th quarter. Blue Trust Inc. now owns 1,424 shares of the company’s stock worth $55,000 after buying an additional 237 shares in the last quarter. Huntington National Bank lifted its position in shares of CarMax by 62.4% during the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after buying an additional 265 shares during the last quarter. Finally, Ossiam boosted its stake in CarMax by 19.5% in the second quarter. Ossiam now owns 1,713 shares of the company’s stock valued at $115,000 after buying an additional 280 shares in the last quarter.

Analyst Ratings Changes

KMX has been the subject of several research analyst reports. Truist Financial boosted their target price on CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, June 18th. Morgan Stanley upped their price objective on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective for the company in a research note on Thursday, June 18th. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research report on Monday, July 6th. Finally, Barclays boosted their target price on shares of CarMax from $31.00 to $37.00 and gave the stock an “underweight” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $47.73.

CarMax Trading Up 5.0%

Shares of KMX traded up $2.55 during mid-day trading on Friday, reaching $53.56. 2,287,836 shares of the company were exchanged, compared to its average volume of 3,722,328. The business has a 50 day simple moving average of $45.95 and a two-hundred day simple moving average of $43.90. 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 stock has a market capitalization of $7.60 billion, a PE ratio of 35.00, a PEG ratio of 1.74 and a beta of 1.17. CarMax, Inc. has a 52 week low of $30.26 and a 52 week high of $66.40.

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

Insider Activity at CarMax

In related news, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $53.01 per share, with a total value of $498,294.00. Following the transaction, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. This represents a 39.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter J. Bensen bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the transaction, the director directly owned 24,796 shares in the company, valued at $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 13,900 shares of company stock worth $735,574 over the last quarter. Company insiders own 1.01% of the company’s stock.

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.