Assenagon Asset Management S.A. Invests $1.85 Million in Casey's General Stores, Inc. $CASY

Key Points

• Assenagon Asset Management opened a new position in Casey’s General Stores during Q1, buying 2,541 shares worth about $1.85 million.
• Casey’s reported strong quarterly results, with EPS of $4.37 versus $3.31 expected and revenue of $4.57 billion versus $4.33 billion expected, showing solid year-over-year growth.
• The company raised its quarterly dividend to $0.65 per share from $0.57, while analysts remain generally positive with a Moderate Buy consensus and a target price around $939.29.

Assenagon Asset Management S.A. purchased a new stake in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,541 shares of the company's stock, valued at approximately $1,849,000.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Casey's General Stores by 179,938.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares during the period. Norges Bank purchased a new position in shares of Casey's General Stores in the 4th quarter worth about $265,163,000. Franklin Resources Inc. increased its position in shares of Casey's General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company's stock valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Casey's General Stores by 175.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company's stock valued at $260,622,000 after purchasing an additional 300,249 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Casey's General Stores by 115.9% during the 4th quarter. Corient Private Wealth LLC now owns 423,666 shares of the company's stock valued at $234,164,000 after buying an additional 227,403 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Performance

NASDAQ:CASY opened at $784.28 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey's General Stores, Inc. has a fifty-two week low of $490.00 and a fifty-two week high of $927.85. The firm has a market cap of $29.03 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 2.39 and a beta of 0.62. The business has a 50 day moving average price of $820.32 and a 200-day moving average price of $710.44.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey's General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm earned $2.63 earnings per share. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts predict that Casey's General Stores, Inc. will post 21.05 earnings per share for the current year.

Casey's General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey's General Stores's payout ratio is 11.90%.

Key Headlines Impacting Casey's General Stores

Here are the key news stories impacting Casey's General Stores this week:

• Positive Sentiment: Casey’s reported strong quarterly results, including EPS of $4.37 versus $3.31 expected and revenue of $4.57 billion versus $4.33 billion expected, reinforcing the company’s momentum. Article Title
• Positive Sentiment: Recent coverage highlighted strong inside same-store sales growth, driven by menu innovation, value pricing, and growth in food, beverages, and merchandise. Article Title
• Positive Sentiment: The company raised its quarterly dividend to $0.65 per share from $0.57, signaling confidence in cash generation and adding income appeal. Article Title
• Positive Sentiment: Analysts remain constructive overall, with multiple firms lifting price targets and consensus still sitting at a “Moderate Buy.” Article Title
• Neutral Sentiment: Director Mike Spanos bought 256 shares, a modest insider purchase that suggests confidence but is too small to be a major catalyst. Article Title
• Neutral Sentiment: Insider selling by Katrina Lindsey and Chad Michael Frazell may weigh on sentiment, but the sales appear to be routine portfolio reductions rather than a clear change in business fundamentals. Article Title
• Negative Sentiment: News that Casey’s dropped out of key Russell indexes could create technical selling pressure from index-linked funds and help explain some of the weakness. Article Title

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CASY. UBS Group boosted their target price on Casey's General Stores from $805.00 to $945.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Wells Fargo & Company lifted their price target on shares of Casey's General Stores from $910.00 to $960.00 and gave the stock an "overweight" rating in a research note on Thursday, June 11th. Zacks Research lowered shares of Casey's General Stores from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Jefferies Financial Group boosted their price objective on shares of Casey's General Stores from $700.00 to $780.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $1,069.00 target price on shares of Casey's General Stores in a report on Thursday, June 11th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $939.29.

Insider Activity at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of Casey's General Stores stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares in the company, valued at approximately $5,334,400. This trade represents a 23.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total value of $2,372,707.37. Following the transaction, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is owned by company insiders.

Casey's General Stores Company Profile

Casey's General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company's stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.