Casey's General Stores, Inc. $CASY Shares Sold by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management cut its Casey’s General Stores stake by 35% in the first quarter, selling 1,400 shares and leaving it with 2,600 shares valued at about $1.89 million.
• Casey’s reported a strong quarter, with earnings of $4.37 per share and revenue of $4.57 billion, both above analyst estimates and well ahead of the prior year.
• The company raised its quarterly dividend to $0.65 per share from $0.57, while analysts currently view the stock as a Moderate Buy with an average price target of $939.29.

LGT Fund Management Co Ltd. decreased its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 35.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,600 shares of the company's stock after selling 1,400 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Casey's General Stores were worth $1,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. 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 worth $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. raised its stake in Casey's General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company's stock worth $590,671,000 after purchasing an additional 310,470 shares during the period. Geode Capital Management LLC raised its stake in Casey's General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after purchasing an additional 52,250 shares during the period. Invesco Ltd. boosted its holdings in shares of Casey's General Stores by 12.6% in the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company's stock valued at $316,234,000 after purchasing an additional 64,154 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Casey's General Stores in the 4th quarter valued at $265,163,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Trending Headlines about Casey's General Stores

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

• Positive Sentiment: Jim Cramer said he would “buy 10 shares” of Casey's General Stores every three weeks, which may reinforce a constructive long-term view among retail investors. Jim Cramer Suggests Buying 10 Casey’s Shares Every Three Weeks
• Positive Sentiment: Casey's recently boosted its quarterly dividend to $0.65 per share from $0.57, signaling confidence in cash flow and shareholder returns.
• Positive Sentiment: The company’s latest earnings beat expectations, with revenue and EPS both coming in above estimates, which continues to support the stock’s longer-term strength.
• Neutral Sentiment: Short-interest data showed 0 reported shares, so there is no meaningful bearish short positioning signal in the latest update.
• Negative Sentiment: CEO Darren Rebelez sold 19,000 shares, a sizable reduction in his holdings, which can weigh on sentiment even if the sale was preplanned or personal. SEC Filing
• Negative Sentiment: CFO Stephen P. Bramlage, Jr. also sold 5,700 shares, adding to the impression that insiders are taking profits after the stock’s recent rally. SEC Filing

Casey's General Stores Stock Performance

Shares of CASY opened at $819.83 on Monday. The stock's 50-day moving average is $823.60 and its two-hundred day moving average is $723.22. The stock has a market cap of $30.34 billion, a PE ratio of 42.79, a P/E/G ratio of 2.46 and a beta of 0.62. Casey's General Stores, Inc. has a 12 month low of $490.00 and a 12 month high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.63 earnings per share. Equities analysts forecast that Casey's General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.3%. This is a positive change from Casey's General Stores's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, July 31st. Casey's General Stores's dividend payout ratio is 13.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group upped their price objective on Casey's General Stores from $805.00 to $945.00 and gave the stock a "neutral" rating in a report on Thursday, June 11th. Royal Bank Of Canada lifted their target price on Casey's General Stores from $794.00 to $850.00 and gave the company a "sector perform" rating in a report on Thursday, June 25th. Capital One Financial initiated coverage on Casey's General Stores in a research report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 price target for the company. Evercore restated an "outperform" rating and set a $990.00 price target on shares of Casey's General Stores in a research note on Friday, June 12th. Finally, The Goldman Sachs Group raised their price objective on Casey's General Stores from $695.00 to $795.00 and gave the stock a "neutral" rating in a report on Thursday, June 25th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $939.29.

Insider Buying and Selling

In other news, Director Allison M. Wing sold 530 shares of Casey's General Stores stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total transaction of $443,917.40. Following the sale, the director owned 3,042 shares in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the transaction, the chief financial officer directly owned 29,677 shares in the company, valued at approximately $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,243 shares of company stock valued at $24,421,877 over the last three months. Company insiders own 0.54% 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.

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