Banyan Capital Management Inc. Acquires 1,710 Shares of CarMax, Inc. (NYSE:KMX)

Banyan Capital Management Inc. grew its holdings in CarMax, Inc. (NYSE:KMX) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,691 shares of the company’s stock after buying an additional 1,710 shares during the quarter. CarMax accounts for approximately 5.8% of Banyan Capital Management Inc.’s holdings, making the stock its 7th biggest holding. Banyan Capital Management Inc. owned 0.08% of CarMax worth $9,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMX. Morningstar Investment Services LLC grew its position in CarMax by 95.4% in the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after acquiring an additional 1,326,840 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of CarMax by 1,327.3% in the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock valued at $89,070,000 after purchasing an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of CarMax by 3,094.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after purchasing an additional 577,685 shares during the last quarter. Verition Fund Management LLC increased its position in shares of CarMax by 5,711.9% during the 4th quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock worth $32,781,000 after purchasing an additional 419,826 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in CarMax by 110.0% during the 2nd quarter. Natixis Advisors LLC now owns 563,608 shares of the company’s stock valued at $41,335,000 after purchasing an additional 295,271 shares during the last quarter.

Insider Activity

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at $965,567.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The disclosure for this sale can be found here. Insiders have sold a total of 185,243 shares of company stock valued at $14,893,042 in the last 90 days. 1.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Argus raised shares of CarMax to a “hold” rating in a report on Tuesday, June 25th. Needham & Company LLC dropped their price target on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a report on Monday, June 24th. StockNews.com upgraded CarMax to a “sell” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Truist Financial lifted their price target on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.08.

CarMax Stock Performance

CarMax stock opened at $77.39 on Friday. The company has a market cap of $12.08 billion, a PE ratio of 30.23, a PEG ratio of 1.53 and a beta of 1.69. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. The company’s 50-day moving average is $80.41 and its two-hundred day moving average is $76.54.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period last year, the firm earned $1.16 earnings per share. Equities analysts anticipate that CarMax, Inc. will post 2.99 earnings per share for the current year.

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.