Capital Research Global Investors Trims CarMax Stake to 2.6%

TL;DR

**Capital Research Global Investors cut its CarMax stake to 2.6%, a minor bearish signal.**

AI Summary

Capital Research Global Investors, a Delaware-based investment firm, filed an amended SC 13G/A on February 9, 2024, disclosing its ownership in CarMax, Inc. As of December 29, 2023, the firm beneficially owned 4,138,985 shares of CarMax common stock, representing 2.6% of the company's outstanding shares. This filing indicates a slight decrease in their reported stake from a previous filing, which could signal a minor shift in their investment strategy or portfolio rebalancing for CarMax stock.

Why It Matters

This filing shows a major institutional investor's updated position in CarMax, which can influence market sentiment and provide insight into how large funds view the company's future prospects.

Risk Assessment

Risk Level: low — The change in ownership is relatively small and from an institutional investor, indicating a minor portfolio adjustment rather than a significant red flag.

Analyst Insight

A smart investor would note this minor reduction in institutional ownership but not overreact, instead focusing on CarMax's fundamental performance and broader market trends.

Key Numbers

• 4,138,985 — Aggregate Shares Beneficially Owned (The total number of CarMax common stock shares owned by Capital Research Global Investors as of December 29, 2023.)
• 2.6% — Percentage of Class (The percentage of CarMax's common stock outstanding that Capital Research Global Investors beneficially owns.)
• December 29, 2023 — Date of Event (The date on which the ownership change requiring this filing occurred.)
• February 9, 2024 — Filing Date (The date this amended SC 13G/A filing was submitted to the SEC.)

Key Players & Entities

• Capital Research Global Investors (company) — the reporting person and institutional investor
• CarMax, Inc. (company) — the subject company whose shares are being reported
• Delaware (company) — place of organization for Capital Research Global Investors
• Richmond, VA (company) — business address for CarMax, Inc.

Forward-Looking Statements

• CarMax's stock price will experience minor volatility due to this disclosure. (CarMax, Inc.) — low confidence, target: 2024-02-16
• Capital Research Global Investors will continue to adjust its CarMax holdings based on market conditions. (Capital Research Global Investors) — medium confidence, target: 2024-08-09

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 16KB
• 0001422848-24-000061.txt ( ) — 18KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1 ) * CarMax, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 143130102 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 143130102 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Capital Research Global Investors 95-1411037 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 4,138,984 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 4,138,985 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,138,985 Beneficial ownership disclaimed pursuant to Rule 13d-4 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.6% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer CarMax, Inc. (b) Address of Issuer's Principal Executive Offices 12800 Tuckahoe Creek Parkway, Richmond, VA 23238 Item 2. (a) Name of Person Filing Capital Research Global Investors (b) Address of Principal Business Office or, if None, Residence 333 South Hope Street, 55th Fl, Los Angeles, CA 90071 (c) Citizenship N/A (d) Title of Class of Securities Common Stock (e) CUSIP Number 143130102 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 4,138,985 ** (b) Percent of Class: 2.6% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 4,138,984 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 4,138,985 (iv) shared power to dispose or to direct the disposition of 0 **Capital Research Global Investors ("CRGI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CRGI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital Research Global Investors." CRGI is deemed to be the beneficial owner of 4,138,985 shares or 2.6% of the 158,021,407 shares believed to be outstanding. Item 5. Ownership of Five Percent or Less of Class. If this statement is being filed to report the fact that as of the date hereof the report