United Capital Financial Advisors LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) in the second quarter, HoldingsChannel.com reports. The firm bought 689 shares of the company’s stock, valued at approximately $548,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. bought a new position in Casey’s General Stores in the second quarter worth about $2,759,895,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 buying an additional 2,657,687 shares in the last quarter. Norges Bank bought a new stake in shares of Casey’s General Stores in the 4th quarter valued at about $265,163,000. Bank of America Corp DE purchased a new position in shares of Casey’s General Stores in the 2nd quarter worth approximately $281,872,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Casey’s General Stores in the 2nd quarter worth approximately $281,011,000. Institutional investors own 85.63% of the company’s stock.
Casey’s General Stores Stock Performance
Shares of Casey’s General Stores stock opened at $752.21 on Tuesday. The company has a 50 day moving average price of $830.33 and a 200 day moving average price of $782.87. The firm has a market capitalization of $27.84 billion, a P/E ratio of 39.26, a PEG ratio of 2.59 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey’s General Stores, Inc. has a 52 week low of $490.00 and a 52 week high of $927.85.
Casey’s General Stores Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were paid a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is presently 13.57%.
Wall Street Analysts Forecast Growth
CASY has been the subject of a number of analyst reports. William Blair initiated coverage on shares of Casey’s General Stores in a research report on Wednesday, May 20th. They set an “outperform” rating for the company. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price target on the stock in a report on Monday, July 13th. BMO Capital Markets raised Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 price target on the stock in a research report on Monday, June 29th. Wolfe Research reissued an “outperform” rating and issued a $1,069.00 price objective on shares of Casey’s General Stores in a research report on Thursday, June 11th. Finally, BNP Paribas Exane dropped their target price on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $942.87.
Check Out Our Latest Research Report on CASY
Insider Activity
In related news, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was 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 in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Katrina S. Lindsey sold 2,000 shares of Casey’s General Stores stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the sale, the insider directly owned 6,668 shares of the company’s stock, valued at approximately $5,334,400. This represents a 23.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,243 shares of company stock valued at $24,421,877. 0.67% of the stock is owned by corporate insiders.
About Casey’s General Stores
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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