Casey's General Stores, Inc. $CASY Stock Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. cut its Casey’s stake by 86.1% during the third quarter, selling 10,880 shares and retaining 1,759 shares worth approximately $1.07 million. Institutional investors collectively own 85.63% of the company.
• Casey’s reported quarterly earnings of $7.37 per share, exceeding estimates of $6.78, while revenue rose 24.3% year over year to $5.68 billion. The company also declared a $0.65 quarterly dividend, or $2.60 annually, yielding about 0.4%.
• Analysts maintain a “Moderate Buy” consensus rating, with 16 Buy ratings and five Holds and an average price target of $835.38, compared with the stock’s reported price of $703.93.

Robeco Institutional Asset Management B.V. trimmed its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 86.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,759 shares of the company's stock after selling 10,880 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Casey's General Stores were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Casey's General Stores during the second quarter worth $2,759,895,000. Bank of America Corp DE purchased a new position in Casey's General Stores in the second quarter worth $281,872,000. Bank of New York Mellon Corp bought a new position in Casey's General Stores in the 2nd quarter valued at $281,011,000. Jupiter Topco LLC bought a new position in Casey's General Stores in the 2nd quarter valued at $246,982,000. Finally, Principal Financial Group Inc. grew its stake in Casey's General Stores by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 252,374 shares of the company's stock valued at $183,693,000 after purchasing an additional 5,294 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Casey's General Stores Stock Up 0.7%

Shares of NASDAQ CASY opened at $703.93 on Tuesday. Casey's General Stores, Inc. has a one year low of $497.38 and a one year high of $927.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.61. The business's fifty day moving average price is $685.93 and its 200-day moving average price is $737.89. The stock has a market capitalization of $26.02 billion, a PE ratio of 33.91, a P/E/G ratio of 2.26 and a beta of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, topping the consensus estimate of $6.78 by $0.59. Casey's General Stores had a return on equity of 19.68% and a net margin of 4.14%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the prior year, the company earned $5.77 EPS. The firm's quarterly revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts anticipate that Casey's General Stores, Inc. will post 21.61 EPS for the current year.

Casey's General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, October 30th. Casey's General Stores's dividend payout ratio (DPR) is currently 12.52%.

Wall Street Analyst Weigh In

CASY has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $750.00 target price on Casey's General Stores in a research note on Wednesday, September 9th. Raymond James Financial upgraded shares of Casey's General Stores from a "market perform" rating to an "outperform" rating and set a $750.00 price objective for the company in a report on Thursday, September 10th. KeyCorp lowered their price objective on shares of Casey's General Stores from $970.00 to $780.00 and set an "overweight" rating on the stock in a research report on Thursday, September 10th. JPMorgan Chase & Co. dropped their target price on shares of Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating on the stock in a research note on Thursday, September 3rd. Finally, Evercore reissued an "outperform" rating and set a $775.00 target price on shares of Casey's General Stores in a research report on Friday, September 11th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $835.38.

Casey's General Stores 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.

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