Iowa State Bank boosted its position in Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) by 72.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,710 shares of the company’s stock after acquiring an additional 1,555 shares during the quarter. Iowa State Bank’s holdings in Casey’s General Stores were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Financial Advisors acquired a new position in shares of Casey’s General Stores in the 2nd quarter valued at about $26,000. Bell Investment Advisors Inc acquired a new stake in Casey’s General Stores during the 2nd quarter worth approximately $33,000. Anchor Investment Management LLC raised its holdings in Casey’s General Stores by 72.0% in the second quarter. Anchor Investment Management LLC now owns 43 shares of the company’s stock valued at $34,000 after buying an additional 18 shares during the period. Caitlin John LLC acquired a new position in Casey’s General Stores during the second quarter valued at approximately $35,000. Finally, Whipplewood Advisors LLC acquired a new position in Casey’s General Stores during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.
Wall Street Analyst Weigh In
CASY has been the subject of several recent research reports. UBS Group dropped their price objective on shares of Casey’s General Stores from $925.00 to $720.00 and set a “neutral” rating for the company in a research report on Thursday, September 10th. Royal Bank Of Canada decreased their price target on shares of Casey’s General Stores from $913.00 to $910.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 9th. William Blair reiterated an “outperform” rating on shares of Casey’s General Stores in a report on Wednesday, September 16th. JPMorgan Chase & Co. cut their price objective on Casey’s General Stores from $975.00 to $833.00 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd. Finally, Wells Fargo & Company reduced their price objective on Casey’s General Stores from $960.00 to $750.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $840.69.
Casey’s General Stores Stock Up 0.3%
Shares of NASDAQ CASY traded up $1.63 during trading on Tuesday, reaching $618.96. 307,233 shares of the stock were exchanged, compared to its average volume of 525,759. The business’s 50-day moving average price is $738.65 and its 200 day moving average price is $777.37. Casey’s General Stores, Inc. has a twelve month low of $497.38 and a twelve month high of $927.85. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $22.88 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.01 and a beta of 0.59.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last released its quarterly earnings results on Tuesday, September 8th. The company reported $7.37 earnings per share for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. Casey’s General Stores had a net margin of 4.14% and a return on equity of 19.68%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period last year, the business earned $5.77 EPS. The business’s revenue was up 24.3% on a year-over-year basis. As a group, equities analysts forecast that Casey’s General Stores, Inc. will post 21.43 EPS for the current fiscal year.
Casey’s General Stores Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey’s General Stores’s dividend payout ratio is presently 12.52%.
Insider Activity
In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their position. The SEC filing for this sale provides additional information. 0.67% of the stock is owned by company 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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