Banyan Capital Management Inc. Buys 8,478 Shares of CarMax, Inc. $KMX

Key Points

• Banyan Capital Management Inc. increased its stake in CarMax, Inc. by 6.4%, now owning 140,827 shares and making it their 11th largest holding.
• Several institutional investors, including Fuller & Thaler and GAMMA Investing, significantly boosted their holdings in CarMax, with increases of over 600% and 8,600% respectively during the 1st quarter.
• CarMax shares recently traded at $57.60 with a market cap of $8.64 billion and a consensus rating of "Moderate Buy" from analysts.

Banyan Capital Management Inc. raised its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,827 shares of the company's stock after purchasing an additional 8,478 shares during the period. CarMax accounts for 4.9% of Banyan Capital Management Inc.'s holdings, making the stock its 11th biggest holding. Banyan Capital Management Inc. owned 0.09% of CarMax worth $9,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KMX. Fuller & Thaler Asset Management Inc. boosted its position in shares of CarMax by 626.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company's stock worth $70,364,000 after purchasing an additional 778,652 shares in the last quarter. GAMMA Investing LLC boosted its holdings in CarMax by 8,675.6% in the first quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock worth $40,193,000 after acquiring an additional 509,952 shares in the last quarter. Nuveen LLC acquired a new stake in CarMax in the first quarter valued at approximately $33,872,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of CarMax during the first quarter valued at approximately $16,370,000. Finally, Wellington Management Group LLP lifted its holdings in shares of CarMax by 34.2% in the 1st quarter. Wellington Management Group LLP now owns 815,461 shares of the company's stock worth $63,541,000 after purchasing an additional 207,665 shares in the last quarter.

CarMax Trading Down 0.9%

Shares of CarMax stock opened at $57.60 on Wednesday. CarMax, Inc. has a 1 year low of $54.53 and a 1 year high of $91.25. The firm has a market cap of $8.64 billion, a PE ratio of 15.91, a P/E/G ratio of 0.94 and a beta of 1.35. The stock has a fifty day moving average price of $59.38 and a 200-day moving average price of $65.25. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on KMX shares. JPMorgan Chase & Co. boosted their price target on shares of CarMax from $58.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Royal Bank Of Canada upped their target price on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Wedbush reissued an "outperform" rating and issued a $84.00 price objective on shares of CarMax in a research note on Tuesday, August 19th. Benchmark began coverage on CarMax in a report on Thursday, July 17th. They issued a "buy" rating and a $75.00 target price on the stock. Finally, Truist Financial upped their price target on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CarMax currently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

About CarMax

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.

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