Corebridge Financial Inc. Has $17.83 Million Holdings in Casey's General Stores, Inc. $CASY

Key Points

• Corebridge Financial Inc. has reduced its stake in Casey's General Stores by 2.4%, selling 1,003 shares during the first quarter, leaving it with 41,068 shares valued at approximately $17.8 million.
• Institutional investors own 85.63% of Casey's General Stores, with notable increases in holdings from firms like Wellington Management Group and GAMMA Investing LLC during the first quarter.
• Several analysts have raised their price targets for Casey's General Stores, with the average consensus price set at $467.33 and a majority rating the stock as a "Moderate Buy."

Corebridge Financial Inc. lessened its holdings in Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,068 shares of the company's stock after selling 1,003 shares during the period. Corebridge Financial Inc. owned about 0.11% of Casey's General Stores worth $17,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. MML Investors Services LLC lifted its position in Casey's General Stores by 7.9% in the 4th quarter. MML Investors Services LLC now owns 4,505 shares of the company's stock worth $1,785,000 after buying an additional 329 shares in the last quarter. Dark Forest Capital Management LP lifted its position in Casey's General Stores by 3.2% in the 4th quarter. Dark Forest Capital Management LP now owns 902 shares of the company's stock worth $357,000 after buying an additional 28 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Casey's General Stores by 50.2% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,592 shares of the company's stock worth $1,027,000 after buying an additional 866 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Casey's General Stores by 12.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,189 shares of the company's stock worth $471,000 after buying an additional 128 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Casey's General Stores in the fourth quarter worth approximately $1,708,000. Institutional investors and hedge funds own 85.63% of the company's stock.

Insider Buying and Selling at Casey's General Stores

In related news, CEO Darren M. Rebelez sold 20,000 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the transaction, the chief executive officer owned 89,840 shares of the company's stock, valued at approximately $45,623,447.20. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 6,600 shares of Casey's General Stores stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $506.03, for a total value of $3,339,798.00. Following the sale, the insider directly owned 2,100 shares in the company, valued at $1,062,663. The trade was a 75.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,646 shares of company stock valued at $22,136,614 in the last three months. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CASY. BMO Capital Markets increased their price objective on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday, June 11th. Wells Fargo & Company increased their price objective on Casey's General Stores from $460.00 to $540.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Stephens restated an "overweight" rating and issued a $490.00 price objective on shares of Casey's General Stores in a report on Tuesday, June 10th. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, The Goldman Sachs Group upped their price target on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Casey's General Stores currently has a consensus rating of "Moderate Buy" and an average target price of $467.33.

Casey's General Stores Stock Down 0.3%

Shares of CASY traded down $1.48 during trading hours on Friday, hitting $494.52. 242,875 shares of the company were exchanged, compared to its average volume of 222,953. The company has a market cap of $18.39 billion, a PE ratio of 33.78 and a beta of 0.69. The firm's 50 day moving average is $514.19 and its 200-day moving average is $465.72. Casey's General Stores, Inc. has a 52 week low of $350.52 and a 52 week high of $531.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.95 billion. Casey's General Stores had a net margin of 3.43% and a return on equity of 16.28%. The business's revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 EPS. On average, equities research analysts forecast that Casey's General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Casey's General Stores Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.5%. This is an increase from Casey's General Stores's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, August 1st. Casey's General Stores's payout ratio is presently 15.57%.

Casey's General Stores Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.