Casey’s General Stores, Inc. $CASY Stock Holdings Increased by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,504 shares of the company’s stock after purchasing an additional 182 shares during the quarter. Nordea Investment Management AB’s holdings in Casey’s General Stores were worth $9,294,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valmark Advisers Inc. lifted its holdings in Casey’s General Stores by 0.5% in the second quarter. Valmark Advisers Inc. now owns 4,404 shares of the company’s stock worth $2,247,000 after purchasing an additional 21 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Casey’s General Stores by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company’s stock worth $256,000 after acquiring an additional 23 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Casey’s General Stores by 1.4% in the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company’s stock worth $812,000 after acquiring an additional 26 shares during the period. Iron Horse Wealth Management LLC boosted its holdings in shares of Casey’s General Stores by 40.0% in the first quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after acquiring an additional 26 shares in the last quarter. Finally, Menard Financial Group LLC increased its stake in shares of Casey’s General Stores by 2.1% during the first quarter. Menard Financial Group LLC now owns 1,290 shares of the company’s stock valued at $603,000 after acquiring an additional 27 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CASY. Wells Fargo & Company started coverage on Casey’s General Stores in a research report on Wednesday, October 15th. They issued an “overweight” rating and a $610.00 target price for the company. BMO Capital Markets boosted their price objective on Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group raised their target price on Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Evercore ISI lifted their target price on Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Finally, KeyCorp upped their price target on shares of Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $536.10.

Insider Activity at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the sale, the insider owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Stock Performance

Shares of NASDAQ CASY opened at $564.40 on Tuesday. The stock’s fifty day simple moving average is $535.05 and its 200 day simple moving average is $499.52. The stock has a market capitalization of $20.98 billion, a price-to-earnings ratio of 36.23 and a beta of 0.68. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a 52-week low of $372.08 and a 52-week high of $572.18.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.Casey’s General Stores’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 earnings per share. As a group, sell-side analysts forecast that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current fiscal year.

Casey’s General Stores Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, October 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.4%. Casey’s General Stores’s payout ratio is currently 14.63%.

About Casey’s General Stores

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.