Capital Square LLC purchased a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,092 shares of the company’s stock, valued at approximately $895,000.
Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Casey’s General Stores during the second quarter worth approximately $2,759,895,000. Northwestern Mutual Wealth Management Co. raised its position 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 purchasing an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. raised its position in Casey’s General Stores by 40.9% in 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. Geode Capital Management LLC boosted its stake in Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after purchasing an additional 52,250 shares during the period. Finally, Invesco Ltd. boosted its stake in Casey’s General Stores by 12.6% during the 4th quarter. Invesco Ltd. now owns 572,152 shares of the company’s stock worth $316,234,000 after purchasing an additional 64,154 shares during the period. 85.63% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CASY. Morgan Stanley upgraded shares of Casey’s General Stores to a “buy” rating in a research note on Wednesday, June 10th. Wells Fargo & Company increased their target price on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Capital One Financial started coverage on Casey’s General Stores in a report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price target on the stock. Evercore restated an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a research report on Friday, June 12th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $913.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $944.20.
Insider Activity at Casey’s General Stores
In other news, insider Chad Michael Frazell sold 3,013 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total value of $2,372,707.37. Following the completion of the sale, the insider directly owned 9,823 shares of the company’s stock, valued at $7,735,514.27. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,243 shares of company stock worth $24,421,877 in the last three months. 0.67% of the stock is currently owned by corporate insiders.
Casey’s General Stores Price Performance
CASY stock opened at $835.74 on Monday. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The stock has a market capitalization of $30.93 billion, a PE ratio of 43.62, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. The company has a fifty day moving average of $837.28 and a 200-day moving average of $776.94.
Casey’s General Stores (NASDAQ:CASY – Get Free Report) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.63 earnings per share. As a group, analysts expect that Casey’s General Stores, Inc. will post 21.11 EPS 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. Shareholders of record on Saturday, August 1st were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is presently 13.57%.
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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