Midwest Trust Co Invests $15.66 Million in Casey’s General Stores, Inc. $CASY

Midwest Trust Co bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,694 shares of the company’s stock, valued at approximately $15,662,000. Midwest Trust Co owned approximately 0.08% of Casey’s General Stores as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CASY. Crossmark Global Holdings Inc. boosted its holdings in Casey’s General Stores by 15.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 745 shares of the company’s stock worth $323,000 after acquiring an additional 100 shares during the last quarter. M&T Bank Corp lifted its position in shares of Casey’s General Stores by 39.6% during the first quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock valued at $1,092,000 after purchasing an additional 713 shares in the last quarter. Allworth Financial LP lifted its position in shares of Casey’s General Stores by 10.8% during the first quarter. Allworth Financial LP now owns 654 shares of the company’s stock valued at $293,000 after purchasing an additional 64 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Casey’s General Stores by 6.4% during the first quarter. Alps Advisors Inc. now owns 9,446 shares of the company’s stock worth $4,100,000 after purchasing an additional 569 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Casey’s General Stores by 1.1% during the first quarter. State of Michigan Retirement System now owns 8,921 shares of the company’s stock worth $3,872,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Up 2.0%

Shares of CASY stock opened at $533.57 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The firm has a market cap of $19.84 billion, a P/E ratio of 34.25 and a beta of 0.66. The company has a 50 day moving average of $541.66 and a 200-day moving average of $507.68. Casey’s General Stores, Inc. has a 12-month low of $372.08 and a 12-month high of $572.18.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the business earned $4.83 earnings per share. Casey’s General Stores’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts anticipate that Casey’s General Stores, Inc. will post 13.94 earnings per share for the current 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 paid a dividend of $0.57 per share. The ex-dividend date is Friday, October 31st. This represents a $2.28 annualized dividend and a dividend yield of 0.4%. Casey’s General Stores’s dividend payout ratio is presently 14.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CASY shares. BMO Capital Markets increased their price objective on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research note on Wednesday, September 10th. KeyCorp upped their target price on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Wednesday, October 8th. Stephens reissued an “overweight” rating and issued a $570.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $564.00.

Insider Buying and Selling at Casey’s General Stores

In related news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction dated Monday, September 29th. The stock was 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 of the company’s stock, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Casey’s General Stores Company Profile

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.