Sterling Capital Management LLC Trims Stake in Casey’s General Stores, Inc. (NASDAQ:CASY)

11 Apr 2025, 08:18 by Renee Jackson · The Cerbat Gem

Sterling Capital Management LLC lowered its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,536 shares of the company’s stock after selling 197 shares during the period. Sterling Capital Management LLC’s holdings in Casey’s General Stores were worth $10,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in Casey’s General Stores in the 3rd quarter valued at $397,000. MML Investors Services LLC boosted its holdings in shares of Casey’s General Stores by 14.3% in the third quarter. MML Investors Services LLC now owns 4,176 shares of the company’s stock valued at $1,569,000 after acquiring an additional 522 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Casey’s General Stores during the third quarter worth about $1,245,000. Barclays PLC raised its holdings in Casey’s General Stores by 110.5% during the third quarter. Barclays PLC now owns 22,487 shares of the company’s stock worth $8,450,000 after purchasing an additional 11,802 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Casey’s General Stores by 1.3% in the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock valued at $246,335,000 after purchasing an additional 8,428 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 0.4 %

Casey’s General Stores stock opened at $438.01 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. Casey’s General Stores, Inc. has a 1 year low of $306.60 and a 1 year high of $458.92. The firm’s 50-day moving average is $417.71 and its 200-day moving average is $407.16. The company has a market cap of $16.26 billion, a P/E ratio of 30.52, a PEG ratio of 2.40 and a beta of 0.74.

Casey’s General Stores (NASDAQ:CASY – Get Free Report) last issued its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. On average, equities analysts expect that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.46%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s dividend payout ratio is presently 13.94%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the transaction, the insider now directly owns 2,443 shares of the company’s stock, valued at $1,067,615.43. The trade was a 9.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mike Spanos bought 256 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $390.54 per share, with a total value of $99,978.24. Following the transaction, the director now owns 3,356 shares in the company, valued at $1,310,652.24. The trade was a 8.26 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on CASY shares. Stephens upgraded shares of Casey’s General Stores to a “strong-buy” rating in a research report on Monday. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. KeyCorp started coverage on Casey’s General Stores in a research note on Friday. They issued an “overweight” rating and a $500.00 price target on the stock. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Finally, Evercore ISI raised their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $430.33.

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