Who Owns Casey's General Stores Company?

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Who Owns Casey's General Stores?

Understanding a company's ownership is key to grasping its strategy and market position. For Casey's General Stores, a significant player in the retail sector, recent growth highlights the importance of this insight. Founded in 1968, Casey's has evolved into a major convenience store chain.

As of July 2025, Casey's General Stores, Inc. is a publicly traded entity with a market capitalization of approximately $16.97 billion. The company operates nearly 2,900 stores across 20 states, with a strong presence in the Midwest and South.

The ownership of Casey's General Stores is primarily distributed among institutional investors, individual shareholders, and company insiders. As a publicly traded company, its shares are available for purchase on stock exchanges, meaning a broad base of investors can hold ownership stakes. Key institutional holders often include large asset management firms and mutual funds that invest on behalf of many individuals. These entities typically acquire significant blocks of shares, influencing the company's direction through their voting power and investment decisions. For instance, Vanguard Group and BlackRock Inc. are consistently among the largest institutional shareholders in many publicly traded companies, and their holdings in Casey's would reflect their broad market investment strategies. The company's own Casey's General Stores BCG Matrix analysis would be influenced by these ownership dynamics.

The story of Casey's General Stores begins with its founder, Donald F. Lamberti. In 1968, Lamberti leased a service station from his father in Des Moines, Iowa, marking the official start of the business. This initial venture was transformed into a convenience store over nine years.

Founder's Vision

Donald F. Lamberti founded Casey's General Stores, starting with a leased service station in Des Moines, Iowa, in 1968.

Expansion Catalyst

A pivotal moment came when Lamberti was advised to purchase the Square Deal Oil Company in Boone, Iowa.

The Naming Origin

The iconic 'Casey's' name was derived from the first two initials of Lamberti's friend and gasoline supplier, Kurvin C. Fish.

Early Funding

Initial capital details are not publicly specified, but the early strategy involved leasing and purchasing the first store, suggesting self-funding or family support.

Strategic Growth

Lamberti replicated his successful convenience store model, opening additional locations in Creston and Waukee, Iowa.

Small Town Success

The Waukee store, despite the town's small population, became the most successful, validating the strategy of serving smaller communities.

By the close of the 1970s, the company had expanded significantly, reaching a total of 118 stores. This rapid growth demonstrated the effectiveness of Lamberti's business model focused on convenience and essential services in smaller towns, a strategy that has continued to shape the company's trajectory. Understanding this early expansion is key to grasping the Competitors Landscape of Casey's General Stores.

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Casey's General Stores, Inc. transitioned to a publicly traded entity in October 1983, listing on the NASDAQ under the ticker CASY. This move facilitated capital access for its expansion across the Midwest. As of July 31, 2025, the company boasts a market capitalization of approximately $19.524 billion.

The ownership landscape of Casey's General Stores is largely dominated by institutional investors, who held about 85% of the company's shares as of February 2025. This substantial institutional backing signifies a strong belief in the company's operational performance and future growth trajectory. Leading institutional shareholders include The Vanguard Group, Inc., holding 10% of outstanding shares, BlackRock, Inc. with 9.0%, and T. Rowe Price Group, Inc., possessing approximately 5.3% of the company's stock as of February 2025. Other significant institutional stakeholders comprise Morgan Stanley, State Street Corp, Wellington Management Group Llp, and JPMorgan Chase & Co. The collective ownership by the top 17 shareholders amounts to 51% of the company, indicating a broad institutional investor base rather than concentrated control by any single entity. Insiders, such as company executives and board members, collectively own a modest 0.53% of the shares as of January 2025, suggesting alignment of leadership interests with those of the broader shareholder base, albeit with a relatively small direct equity stake.

Understanding Casey's Stock Ownership

Institutional investors are the primary holders of Casey's General Stores stock, reflecting confidence in its market position.

• Institutional investors own approximately 85% of Casey's stock as of February 2025.
• The Vanguard Group, Inc. is a major shareholder with 10% of shares outstanding.
• BlackRock, Inc. holds 9.0% of the company's stock.
• T. Rowe Price Group, Inc. owns approximately 5.3% of Casey's stock.
• The top 17 shareholders collectively own 51% of the company.

Strategic acquisitions have played a crucial role in Casey's expansion efforts. Notable transactions include the 2021 acquisition of Buchanan Energy (Pilot Corporation), which integrated 131 stores into its portfolio, and the November 2024 acquisition of Fikes Wholesale, Inc. (CEFCO Convenience Stores) for $1.145 billion. This latter deal significantly boosted Casey's operational footprint by adding 198 retail stores and a dealer network. These strategic moves have substantially increased the company's store count, reaching a total of 2,904 stores as of April 30, 2025. Understanding these developments is key to grasping the current Mission, Vision & Core Values of Casey's General Stores and its overall Casey's company structure.

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The Board of Directors for Casey's General Stores, Inc. is responsible for guiding the company's strategic path and ensuring strong corporate governance. As of July 2025, Darren M. Rebelez holds the positions of Board Chair, President, and Chief Executive Officer. The board is comprised of individuals with diverse backgrounds, including technology, finance, and retail operations, bringing a wealth of experience to their oversight.

Casey's General Stores operates on a standard voting structure where each share of common stock grants one vote at shareholder meetings. This one-share-one-vote principle is fundamental to how Casey's stock ownership translates into influence. Shareholders can cast their votes through various methods, including online, by phone, or via mail, as detailed in the company's proxy statements, such as the one issued in July 2025. The company's governance framework allows the Board to combine or separate the roles of Board Chair and CEO, making decisions based on what best serves the company at any given time. If the Board Chair is not an independent director, a lead independent director is appointed to fulfill specific oversight responsibilities. The current structure reflects a commitment to experienced leadership, with no recent public proxy battles significantly altering the company's decision-making processes. Understanding the Revenue Streams & Business Model of Casey's General Stores can provide further context on how the board's decisions impact operations.

Understanding Casey's Voting Power

Shareholder voting rights at Casey's General Stores are tied directly to the number of common shares owned. This ensures that Casey's stock ownership directly correlates with voting influence.

• One share equals one vote for common stock.
• Voting can be done online, by phone, or by mail.
• The Board can combine or separate Chair and CEO roles.
• A lead independent director is appointed if the Chair is not independent.
• No recent activist campaigns have significantly altered control.

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In recent years, Casey's General Stores has been actively expanding its footprint, with fiscal year 2025 marking a record year for growth. This strategic expansion, driven by both new store development and significant acquisitions, underscores a commitment to increasing market presence and operational scale.

Casey's General Stores has seen shifts in its ownership landscape, with institutional investors maintaining a dominant stake. While the company did not engage in share repurchases in the latter half of fiscal year 2025, a substantial amount remains available under its existing authorization. Insider activity, such as the CEO's recent share sale, has been noted, though overall insider holdings saw a slight increase. The company continues to prioritize shareholder returns through consistent dividend increases, reflecting a stable financial position and confidence in future growth.

Shareholder Composition

Institutional investors held approximately 85% of Casey's shares as of February 2025. The Vanguard Group, Inc. and BlackRock, Inc. are the largest institutional shareholders, indicating significant trust from major investment firms in the company's strategy and performance.

Dividend Growth and Shareholder Value

In June 2025, Casey's approved a 14% increase in its quarterly dividend to $0.57 per share. This marks the 26th consecutive year of dividend increases, demonstrating a consistent commitment to returning value to its investors.

Strategic Expansion and Acquisitions

The company's aggressive growth strategy includes a target of approximately 500 new stores over a three-year period. This expansion is a key factor in understanding Target Market of Casey's General Stores and its evolving operational scope.

Insider Trading Activity

CEO Darren M. Rebelez sold 20,000 shares in June 2025, valued at over $10 million. This transaction represented an 18.21% decrease in his direct ownership, though overall insider holdings saw a slight increase to 0.49% by January 2025.

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