Baird Financial Group Inc. Lowers Stake in Casey's General Stores, Inc. $CASY

Key Points

• Baird Financial Group reduced its Casey’s General Stores stake by 7.9% in the second quarter, selling 8,400 shares and retaining 97,670 shares valued at approximately $77.6 million.
• Casey’s fiscal Q1 2027 results exceeded expectations, with adjusted EPS of $7.37 and revenue of $5.68 billion; however, inside same-store sales growth of 3.2% disappointed investors and contributed to a post-earnings selloff.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $911.33, while the company maintained its outlook and declared a quarterly dividend of $0.65 per share.

Baird Financial Group Inc. cut its stake in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 7.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,670 shares of the company's stock after selling 8,400 shares during the period. Baird Financial Group Inc. owned about 0.26% of Casey's General Stores worth $77,627,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CASY. Fiduciary Financial Advisors purchased a new stake in Casey's General Stores in the 2nd quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in shares of Casey's General Stores during the first quarter worth approximately $33,000. Bell Investment Advisors Inc bought a new stake in shares of Casey's General Stores during the second quarter valued at approximately $33,000. Caitlin John LLC bought a new stake in shares of Casey's General Stores during the second quarter valued at approximately $35,000. Finally, Larson Financial Group LLC raised its stake in shares of Casey's General Stores by 252.4% during the fourth quarter. Larson Financial Group LLC now owns 74 shares of the company's stock valued at $41,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

More Casey's General Stores News

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

• Positive Sentiment: Casey’s reported fiscal Q1 2027 adjusted earnings of $7.37 per share, above the $6.78 consensus estimate, while revenue reached approximately $5.68 billion versus expectations of $5.56 billion. EPS increased 27.7% year over year, supported by stronger inside and fuel gross profit. Casey’s Announces First Quarter Results
• Positive Sentiment: Management maintained its full-year outlook, and analysts continued to defend the long-term investment case. Stephens reaffirmed an “overweight” rating with a $975 price target, while Wells Fargo retained an “overweight” rating despite lowering its target to $750. Casey’s is defended by analysts
• Positive Sentiment: Casey’s declared a quarterly dividend of $0.65 per share, payable November 13 to shareholders of record November 1, signaling continued shareholder returns.
• Neutral Sentiment: UBS described the quarter as effective execution amid an uneven macroeconomic environment. The company’s revenue rose 24.3% year over year, although broader market pressure—including higher oil prices—could weigh on sentiment toward consumer and fuel-related stocks. UBS assessment of Casey’s fiscal Q1 results
• Negative Sentiment: Inside same-store sales rose only 3.2%, below investor expectations and slower than the prior year. The disappointing key sales metric overshadowed the earnings and revenue beats, raising concerns about decelerating organic growth and the company’s premium valuation. Why Casey’s stock is leading the S&P 500 lower
• Negative Sentiment: The post-earnings selloff reflects elevated expectations: investors viewed the quarterly beat as insufficient without stronger inside-store sales momentum. Wells Fargo’s reduction of its price target, although still bullish, reinforces the market’s reassessment of Casey’s near-term growth outlook.

Analysts Set New Price Targets

Several brokerages recently issued reports on CASY. BMO Capital Markets raised Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $950.00 price objective on the stock in a research note on Monday, June 29th. Wells Fargo & Company decreased their target price on Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating for the company in a research report on Wednesday. Northcoast Research raised shares of Casey's General Stores from a "neutral" rating to a "buy" rating and set a $950.00 price objective for the company in a research note on Monday, July 13th. JPMorgan Chase & Co. lowered their target price on Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating for the company in a report on Thursday, September 3rd. Finally, Stephens restated an "overweight" rating and set a $975.00 price objective on shares of Casey's General Stores in a research note on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $911.33.

Casey's General Stores Price Performance

Shares of CASY opened at $629.03 on Thursday. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 2.50 and a beta of 0.59. Casey's General Stores, Inc. has a twelve month low of $497.38 and a twelve month high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $822.28 and a two-hundred day moving average of $786.58.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.78 by $0.59. Casey's General Stores had a return on equity of 19.96% and a net margin of 4.14%.The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the prior year, the firm posted $5.77 earnings per share. The business's quarterly revenue was up 24.3% on a year-over-year basis. As a group, analysts predict that Casey's General Stores, Inc. will post 21.21 earnings per share for the current fiscal year.

Casey's General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey's General Stores's payout ratio is 13.57%.

Insider Activity

In related news, insider Katrina Lindsey sold 2,000 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the transaction, the insider directly owned 6,668 shares of the company's stock, valued at $5,334,400. This represents a 23.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Allison Wing sold 530 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director owned 3,042 shares of the company's stock, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,243 shares of company stock worth $24,421,877 over the last quarter. Company insiders own 0.67% of the company's stock.

About Casey's General Stores

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.

Want to see what other hedge funds are holding CASY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casey's General Stores, Inc. (NASDAQ:CASY - Free Report).

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.