Intech Investment Management 13F: Cuts CASY Stake by $884K

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 28.6%

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.

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.

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.