Midwest Trust Co Makes New Investment in Casey’s General Stores, Inc. $CASY

Midwest Trust Co purchased a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,694 shares of the company’s stock, valued at approximately $15,662,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Samlyn Capital LLC lifted its stake in Casey’s General Stores by 42.8% during the first quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock worth $110,966,000 after purchasing an additional 76,673 shares during the last quarter. UNIVEST FINANCIAL Corp increased its position in shares of Casey’s General Stores by 157.2% during the 2nd quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock valued at $4,366,000 after purchasing an additional 5,230 shares during the last quarter. Ground Swell Capital LLC purchased a new position in shares of Casey’s General Stores during the 1st quarter valued at about $338,000. M&T Bank Corp lifted its position in Casey’s General Stores by 39.6% in the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock worth $1,092,000 after buying an additional 713 shares during the last quarter. Finally, Meridian Wealth Management LLC lifted its position in Casey’s General Stores by 71.6% in the 1st quarter. Meridian Wealth Management LLC now owns 1,215 shares of the company’s stock worth $527,000 after buying an additional 507 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $533.57 on Friday. The firm has a market cap of $19.84 billion, a PE ratio of 34.25 and a beta of 0.66. Casey’s General Stores, Inc. has a fifty-two week low of $372.08 and a fifty-two week high of $572.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The business has a 50 day moving average price of $541.66 and a 200-day moving average price of $507.68.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.83 EPS. Equities research analysts predict that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Saturday, November 1st will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

Insider Activity

In other Casey’s General Stores news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the transaction, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This represents a 30.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CASY has been the topic of a number of recent research reports. Jefferies Financial Group increased their price target on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Wells Fargo & Company began coverage on shares of Casey’s General Stores in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $570.00 target price on shares of Casey’s General Stores in a report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $564.00.

Casey’s General Stores Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.