Sumitomo Mitsui Trust Group Inc. Acquires New Holdings in Casey’s General Stores, Inc. $CASY

Sumitomo Mitsui Trust Group Inc. bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 1st quarter, Holdings Channel.com reports. The fund bought 69,075 shares of the company’s stock, valued at approximately $50,277,000.

Several other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Casey’s General Stores by 179,938.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after buying an additional 2,657,687 shares during the period. Norges Bank acquired a new stake in Casey’s General Stores during the 4th quarter worth $265,163,000. Franklin Resources Inc. lifted its holdings 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 acquiring an additional 310,470 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Casey’s General Stores by 175.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company’s stock worth $260,622,000 after acquiring an additional 300,249 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Casey’s General Stores by 115.9% in the fourth quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock valued at $234,164,000 after acquiring an additional 227,403 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction on Monday, June 29th. The shares were sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares in the company, valued at approximately $5,334,400. The trade was a 23.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the sale, the chief executive officer directly owned 89,174 shares in the company, valued at $71,469,394.04. This trade represents a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,243 shares of company stock valued at $24,421,877 in the last three months. 0.54% of the stock is currently owned by insiders.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $819.83 on Monday. The stock has a 50-day simple moving average of $823.60 and a 200 day simple moving average of $723.22. Casey’s General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85. The company has a market cap of $30.34 billion, a PE ratio of 42.79, a PEG ratio of 2.46 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the previous year, the business posted $2.63 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts expect that Casey’s General Stores, Inc. will post 21.14 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CASY shares. Wolfe Research restated an “outperform” rating and issued a $1,069.00 price target on shares of Casey’s General Stores in a report on Thursday, June 11th. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Wells Fargo & Company increased their target price on 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,000.00 target price on shares of Casey’s General Stores in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $939.29.

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.