Banyan Capital Management Inc. Trims Stock Position in CarMax, Inc. $KMX

Banyan Capital Management Inc. lowered its position in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 17.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 146,248 shares of the company’s stock after selling 31,622 shares during the period. CarMax makes up 2.5% of Banyan Capital Management Inc.’s holdings, making the stock its 13th largest holding. Banyan Capital Management Inc.’s holdings in CarMax were worth $5,651,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new position in CarMax during the second quarter valued at approximately $28,000. MUFG Securities EMEA plc purchased a new position in CarMax during the second quarter valued at approximately $30,000. Center for Financial Planning Inc. purchased a new position in CarMax during the third quarter valued at approximately $31,000. Advisory Services Network LLC purchased a new position in CarMax in the 3rd quarter worth approximately $32,000. Finally, True Wealth Design LLC grew its stake in CarMax by 54.3% in the 4th quarter. True Wealth Design LLC now owns 907 shares of the company’s stock worth $35,000 after buying an additional 319 shares in the last quarter.

CarMax Price Performance

NYSE KMX opened at $36.87 on Tuesday. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $71.99. The company’s 50 day moving average is $41.77 and its two-hundred day moving average is $41.51. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.43 and a beta of 1.19.

CarMax (NYSE:KMX – Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.12. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The firm had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that CarMax, Inc. will post 2.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of CarMax from $28.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 15th. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a report on Wednesday, April 8th. Stephens upped their price target on shares of CarMax from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, April 2nd. Zacks Research upgraded shares of CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Barclays reduced their target price on shares of CarMax from $28.00 to $26.00 and set an “underweight” rating on the stock in a research report on Thursday, April 16th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $41.21.

View Our Latest Report on CarMax

CarMax Company Profile

(Free Report)

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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