Casey’s General Stores (CASY) Benefited from Aggressive Reinvestment

ClearBridge Investments, an investment management company, released its “ClearBridge Mid Cap Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In an environment of shifting monetary policy, stabilizing earnings, and improved sentiment, midcaps experienced growth in the third quarter. The Federal Reserve’s decision to cut rates helped small and mid-cap stocks in the quarter. Value stocks outperformed their growth counterparts with the Russell Midcap Value Index returning 6.2% compared to the Russell Midcap Growth’s 2.8% return. In this environment, the strategy outperformed its Russell Midcap Index during the third quarter. Stock selection in the consumer staples and healthcare sectors drove outperformance of the strategy. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, ClearBridge Mid Cap Strategy highlighted stocks such as Casey’s General Stores, Inc. (NASDAQ:CASY). Casey’s General Stores, Inc. (NASDAQ:CASY) operates convenience stores under the Casey’s and Casey’s General Store names. The one-month return of Casey’s General Stores, Inc. (NASDAQ:CASY) was -4.71%, and its shares gained 31.84% of their value over the last 52 weeks. On November 12, 2025, Casey’s General Stores, Inc. (NASDAQ:CASY) stock closed at $534.88 per share, with a market capitalization of $19.888 billion.

ClearBridge Mid Cap Strategy stated the following regarding Casey’s General Stores, Inc. (NASDAQ:CASY) in its third quarter 2025 investor letter:

“Casey’s General Stores, Inc. (NASDAQ:CASY) also contributed to returns, benefiting from its aggressive reinvestment in its stores over the past decade in which it has built its private label brand and broadened its product offerings. This has not only helped improve same-store sales but has also encouraged repeat traffic, allowing the company to buck broader industry trends toward contraction in gas volumes and margins.

In another article, we covered Casey’s General Stores, Inc. (NASDAQ:CASY) and shared the list of stocks Jim Cramer discussed. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.