First National Bank of Omaha acquired a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,538 shares of the company’s stock, valued at approximately $2,017,000.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Casey’s General Stores during the 2nd quarter worth approximately $2,759,895,000. Northwestern Mutual Wealth Management Co. raised its stake in Casey’s General Stores by 179,938.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares during the period. Norges Bank bought a new stake in Casey’s General Stores in the 4th quarter valued at $265,163,000. Bank of New York Mellon Corp acquired a new stake in Casey’s General Stores during the 2nd quarter valued at $281,011,000. Finally, Franklin Resources Inc. lifted its holdings in Casey’s General Stores by 40.9% during the 4th quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Casey’s General Stores
In other news, Director Allison M. Wing sold 530 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the transaction, the insider owned 9,823 shares of the company’s stock, valued at $7,735,514.27. This trade represents a 23.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,243 shares of company stock worth $24,421,877 over the last quarter. 0.67% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on Casey’s General Stores
Casey’s General Stores Stock Performance
NASDAQ:CASY opened at $836.15 on Thursday. The stock has a 50 day simple moving average of $840.22 and a 200 day simple moving average of $773.90. The stock has a market cap of $30.95 billion, a P/E ratio of 43.64, a PEG ratio of 2.56 and a beta of 0.61. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $2.63 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts anticipate that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.
Casey’s General Stores Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Saturday, August 1st were given a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is currently 13.57%.
Casey’s General Stores Profile
Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.
The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.
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