Sterling Capital Management LLC Sells 1,933 Shares of Casey's General Stores, Inc. $CASY

Key Points

• Sterling Capital Management reduced its Casey’s General Stores position by 10.1% in the first quarter, selling 1,933 shares and leaving it with 17,282 shares worth about $12.6 million.
• Casey’s reported a strong quarter, with EPS of $4.37 beating estimates and revenue of $4.57 billion topping expectations, while revenue rose 14.5% year over year.
• The company also raised its quarterly dividend to $0.65 per share from $0.57, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $939.29.

Sterling Capital Management LLC lessened its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,282 shares of the company's stock after selling 1,933 shares during the quarter. Sterling Capital Management LLC's holdings in Casey's General Stores were worth $12,579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CASY. Northwestern Mutual Wealth Management Co. raised its stake 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 purchasing an additional 2,657,687 shares in the last quarter. Franklin Resources Inc. increased its holdings in Casey's General Stores by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company's stock valued at $590,671,000 after buying an additional 310,470 shares during the period. Victory Capital Management Inc. raised its stake in shares of Casey's General Stores by 35.4% in the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company's stock valued at $447,403,000 after buying an additional 206,777 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Casey's General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock worth $420,416,000 after acquiring an additional 52,250 shares during the period. Finally, Invesco Ltd. increased its stake in Casey's General Stores by 12.6% in the fourth quarter. Invesco Ltd. now owns 572,152 shares of the company's stock valued at $316,234,000 after acquiring an additional 64,154 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Key Casey's General Stores News

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

• Positive Sentiment: Casey’s outlined a three-year growth plan focused on food, new stores, and operational efficiency, which could support longer-term earnings and margin expansion. Casey's Unveils Three-Year Plan Focusing on Growth and Productivity
• Positive Sentiment: Analysts at Zacks Research raised Q4 2028 EPS estimates for Casey’s, signaling improved earnings expectations even though the stock retains a Hold rating.
• Positive Sentiment: BNP Paribas Exane lowered its price target to $995 from $1,032 but kept an outperform rating, implying meaningful upside versus the current share price.
• Positive Sentiment: Casey’s was highlighted among stocks with strong interest coverage ratios and solid EPS growth prospects, reinforcing its profile as a financially resilient company. 4 Stocks With Strong Interest Coverage Ratios to Buy for H2 2026

Casey's General Stores Stock Performance

Shares of Casey's General Stores stock opened at $778.63 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $818.34 and a 200 day simple moving average of $704.39. 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 $28.81 billion, a P/E ratio of 40.64, a P/E/G ratio of 2.36 and a beta of 0.61.

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

Casey's General Stores Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend 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 payout ratio is presently 13.57%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company raised 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 cut Casey's General Stores from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. William Blair started coverage on Casey's General Stores in a research report on Wednesday, May 20th. They set an "outperform" rating for the company. JPMorgan Chase & Co. upped their target price on shares of Casey's General Stores from $719.00 to $975.00 and gave the stock a "neutral" rating in a report on Friday, June 12th. Finally, The Goldman Sachs Group raised their price target on Casey's General Stores from $695.00 to $795.00 and gave the company a "neutral" rating in a report on Thursday. Twelve research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $939.29.

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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