Banyan Capital Management Inc. Has $5.65 Million Stock Position in CarMax, Inc. $KMX

Key Points

• Banyan Capital cut its CarMax stake by 17.8%, selling 31,622 shares to hold 146,248 shares worth $5.65 million, making KMX its 13th-largest position (about 2.5% of Banyan's holdings).
• Analyst sentiment is negative-to-neutral with a MarketBeat consensus rating of "Reduce" and an average target price of $41.21 (1 Buy, 13 Hold, 5 Sell).
• CarMax recently beat quarter estimates with $0.34 EPS vs. $0.22 expected and $5.95B revenue vs. $5.65B expected, though revenue was down 1% year-over-year and the stock trades near $36.87 within a 12‑month range of $30.26–$71.99.

Banyan Capital Management Inc. reduced its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,248 shares of the company's stock after selling 31,622 shares during the quarter. CarMax accounts for about 2.5% of Banyan Capital Management Inc.'s holdings, making the stock its 13th biggest position. Banyan Capital Management Inc. owned approximately 0.10% of CarMax worth $5,651,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in KMX. Jones Financial Companies Lllp lifted its position in shares of CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock valued at $419,000 after purchasing an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of CarMax by 0.6% during the first 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 in the last quarter. Blue Trust Inc. lifted its position in shares of CarMax by 20.0% during the fourth quarter. Blue Trust Inc. now owns 1,424 shares of the company's stock valued at $55,000 after purchasing an additional 237 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of CarMax by 4.2% during the third quarter. Resonant Capital Advisors LLC now owns 6,388 shares of the company's stock valued at $287,000 after purchasing an additional 256 shares in the last quarter. Finally, Ossiam lifted its position in shares of CarMax by 19.5% during the second quarter. Ossiam now owns 1,713 shares of the company's stock valued at $115,000 after purchasing an additional 280 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on KMX shares. Evercore set a $45.00 price objective on shares of CarMax in a research report on Friday, April 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of CarMax in a research report on Wednesday, April 8th. Bank of America started coverage on shares of CarMax in a research report on Wednesday, April 15th. They issued an "underperform" rating and a $40.00 price objective on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $41.00 price objective on shares of CarMax in a research report on Wednesday, April 15th. Finally, Argus raised shares of CarMax to a "hold" rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $41.21.

CarMax Price Performance

KMX opened at $36.87 on Tuesday. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.43 and a beta of 1.19. The company has a quick ratio of 0.49, a current ratio of 2.20 and a debt-to-equity ratio of 2.93. The firm has a 50-day moving average price of $41.77 and a 200-day moving average price of $41.51. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $71.99.

CarMax (NYSE:KMX - Get Free Report) last posted its earnings results on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.12. The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.65 billion. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The company's revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. Equities analysts expect that CarMax, Inc. will post 2.34 EPS for the current year.

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.

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