Intech Investment Management Reduces $884K in Casey's General Stores, Inc. ($CASY)
Intech Investment Management cut its Casey's General Stores holdings by 1,150 shares, now holding 17,650 shares.
Key Points
- Intech Investment Management reduced its Casey's General Stores position by 1,150 shares, a 6.12% decrease, to 17,650 shares worth $16.18 million as of the latest filing.
- Casey's General Stores, Inc., trading at $916.87, has a market cap of $33.18 billion and a P/E ratio of 46.72, with a 52-week range between $490.00 and $927.85.
- Insiders, including the CEO, bought shares recently, and analysts maintained various ratings with price targets ranging from $794 to $990.
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Intech Investment Management has trimmed its stake in Casey's General Stores, Inc. (NasdaqGS: CASY) by 1,150 shares, according to its latest 13F filing with the SEC. This reduction represents a 6.12% decrease in its holdings, leaving the fund with 17,650 shares valued at approximately $16.18 million as of the reporting period.
What Changed in Intech Investment Management's Casey's General Stores Position
Intech Investment Management's decision to reduce its Casey's General Stores holdings involved selling 1,150 shares. Before this adjustment, the fund held 18,800 shares. The change brought its total down to 17,650 shares, representing a 6.12% reduction in its position.
Other Institutional Activity in Casey's General Stores
Several other institutional investors have adjusted their positions in Casey's General Stores. BlackRock, Inc. increased its stake by 740,419 shares, ending with 4,238,547 shares valued at about $3.09 billion. Vanguard Portfolio Management LLC added 1,857,617 shares, bringing its total to 1,857,617 shares worth approximately $1.35 billion. State Street Corp increased its holdings by 139,696 shares, now holding 1,378,641 shares valued at $1.00 billion. Meanwhile, Franklin Resources Inc reduced its position by 117,771 shares, resulting in 950,911 shares worth $692.13 million.
Casey's General Stores, Inc. Stock Up 1.7%
Shares of Casey's General Stores are trading near $916.87. The company has a market capitalization of about $33.18 billion and a P/E ratio of 46.72. It also has a forward P/E of 38.30 and a beta of 0.624, indicating lower volatility compared to the market. The stock's 52-week range is between $490.00 and $927.85, with a 50-day moving average of $803.63 and a 200-day moving average of $643.51. Casey's maintains a current ratio of 1.01 and a quick ratio of 0.575, with a debt-to-equity ratio of 73.155.
$CASY stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
For its recent quarter, Casey's General Stores reported revenue of $17.56 billion, reflecting a 14.5% growth from the previous year. The company achieved an EPS of $19.16, with a net margin of 4.07% and a return on equity of 19.15%. The next earnings report is expected on June 9, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
8 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 30.0%. Revenue beat estimates by 4.2%.
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Profit surprise
EBITDA missed by 24 percent. Operating income missed by 37 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
8 target raises.
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Earnings quality
Gross margin up 2.8 points. Operating margin down 1.3 points. Positive free cash flow.
Earnings Call Summary
Casey's delivered a strong second quarter with revenue of $4.57 billion, up 14 percent year over year, driven by inside sales growth and fuel gallons. The company gained market share in fuel despite a regional decline of 2 percent, benefiting from strong prepared food sales, particularly whole pies and breakfast items. Inside margins improved 20 basis points to 42.4 percent, with prepared food margins of 58.6 percent. Management credited consistent execution, a strong guest value proposition, and improved cost management including lower cheese costs. Traffic increased 1.5 percent, and the company is on track with Cefco integration, planning store conversions to start in the new calendar year.
Guidance Casey's raised its full-year EBITDA growth outlook to 15 to 17 percent, up from prior expectations. Inside same-store sales are now guided to grow 3 to 4 percent, with inside margins expected to be 41 to 42 percent. The company also expects the tax rate to be 24 to 25 percent.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Casey's General Stores pays an annual dividend of $2.36 per share, which translates to a yield of 0.26%. The company's dividend payout ratio stands at approximately 11.9%.
Insider Buying and Selling at Casey's General Stores, Inc.
Recent insider activity at Casey's General Stores includes several purchases. On June 4, 2026, President and CEO Darren Rebelez acquired 3,084 shares. On the same day, Stanley III Sutula bought 51 shares. Earlier, on June 3, 2026, several executives including Chief HR Officer Chad Michael Frazell, Chief Legal Officer Katrina Lindsey, CFO Stephen Bramlage Jr., and COO Ena Koschel Williams made purchases ranging from 503 to 899 shares.
Analysts Set New Price Targets
Analysts have been updating their views on Casey's General Stores. On June 12, 2026, Evercore ISI Group maintained a 'buy' rating with a price target of $990. JP Morgan also kept a 'hold' rating, setting a target at $975. Stephens & Co. reiterated a 'buy' rating with a target of $975. UBS maintained a 'hold' rating with a target of $945 on June 11, 2026. The consensus among 16 analysts is a 'buy' recommendation, with an average target price of $908.31.
About Casey's General Stores
Casey's General Stores, Inc. operates convenience stores across the United States, offering a variety of products including prepared foods like pizza and sandwiches, as well as tobacco, beverages, and fuel. Headquartered in Ankeny, Iowa, the company was founded in 1959 and is led by CEO Darren M. Rebelez. Casey's also operates its own distribution centers to support its store network.
Bottom Line
Intech Investment Management's recent reduction in Casey's General Stores holdings is a notable adjustment in its portfolio. Investors keep a close eye on such filings as they provide a snapshot of fund managers' strategies, although they reflect past positions. Casey's continues to be an attractive stock for many institutional investors, as evidenced by the activity of major funds and recent insider purchases.
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