The Swiss National Bank has increased its stake in Casey’s General Stores, Inc. (NASDAQ: $CASY) by 1.7% during the third quarter of 2023, as revealed in its latest filing with the Securities and Exchange Commission (SEC). The bank now holds 72,087 shares of the convenience store chain, having acquired an additional 1,200 shares, bringing its ownership to approximately 0.19% of the company, valued at around $40.75 million.
Several other institutional investors have also adjusted their positions in Casey’s General Stores recently. Vontobel Holding Ltd. significantly boosted its stake by 129.1% during the same quarter, now owning 890,884 shares worth approximately $503.64 million after purchasing an additional 502,104 shares.
Norges Bank entered the scene earlier, acquiring a new stake in the second quarter valued at $210.15 million. Similarly, Victory Capital Management Inc. expanded its holdings by 35.4% in the third quarter, resulting in ownership of 791,415 shares valued at $447.40 million after an additional purchase of 206,777 shares.
Invesco Ltd. raised its stake by 71.7% in the second quarter, now holding 483,907 shares valued at $246.92 million. Notably, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake dramatically by 4,224.4%, owning 174,705 shares valued at $89.15 million after acquiring 170,665 additional shares. Collectively, institutional investors and hedge funds now own 85.63% of Casey’s General Stores.
In related news, Director Moats Maria Castanon purchased 300 shares on January 5, 2025, at an average price of $554.66 per share, amounting to a total investment of $166,398. This purchase raised the director’s total holdings to 803 shares, valued at approximately $445,391.98.
Conversely, insider Katrina S. Lindsey sold 200 shares on March 11, 2025, at an average price of $683.04, totaling $136,608. Following this transaction, Lindsey’s direct ownership decreased to 4,039 shares, valued at around $2.76 million. Overall, insiders own 0.54% of the company.
Stock Performance and Financial Insights
On the trading front, shares of Casey’s General Stores declined by $2.97 to $670.85 during midday trading on a recent Friday. A total of 75,790 shares changed hands, compared to an average volume of 410,352 shares. The company has experienced a 52-week low of $381.33 and a high of $696.66.
Financially, Casey’s General Stores reported a market capitalization of $24.79 billion, with a price-to-earnings (P/E) ratio of 38.53 and a price-to-earnings-growth (PEG) ratio of 2.31. The company displays a quick ratio of 0.65 and a current ratio of 1.04, with a debt-to-equity ratio of 0.61.
In its recent quarterly earnings announcement, the company reported earnings per share (EPS) of $3.49, surpassing consensus estimates of $2.94 by $0.55. Revenue for the quarter reached $3.92 billion, although it fell short of analyst expectations of $4.08 billion. Comparing to the same quarter last year, revenue increased by 0.3%, with a net margin of 3.83% and a return on equity of 17.56%. Analysts predict an EPS of $13.94 for the current fiscal year.
Dividend Announcements and Company Profile
Additionally, Casey’s General Stores recently declared a quarterly dividend of $0.57, scheduled for payout on May 15, 2025, to stockholders of record as of May 1, 2025. This dividend yields approximately 0.3%, translating to an annualized payout of $2.28, with a payout ratio of 13.09%.
Founded in 1959 in Boone, Iowa, Casey’s General Stores has evolved into a prominent convenience store chain in the United States. The company operates retail fuel stations and food-focused convenience outlets, offering gasoline, grocery essentials, and made-to-order food services. Its strategic focus on fresh and prepared foods has distinguished it within the competitive retail landscape.
For those interested in the latest updates regarding Casey’s General Stores and its institutional holdings, further information can be found through various financial news services and regulatory filings.
