Norges Bank Makes New $265.16 Million Investment in Casey’s General Stores, Inc. $CASY

Norges Bank bought a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 479,750 shares of the company’s stock, valued at approximately $265,163,000.

A number of other institutional investors have also added to or reduced their stakes in CASY. NewEdge Advisors LLC increased its stake in Casey’s General Stores by 6.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after acquiring an additional 113 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Casey’s General Stores by 129.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after acquiring an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Casey’s General Stores by 431.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $111,000 after acquiring an additional 177 shares during the last quarter. Amundi bought a new position in Casey’s General Stores in the 2nd quarter worth about $338,000. Finally, Jump Financial LLC increased its stake in Casey’s General Stores by 42.6% in the 2nd quarter. Jump Financial LLC now owns 968 shares of the company’s stock worth $494,000 after acquiring an additional 289 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CASY has been the topic of a number of research analyst reports. KeyCorp upped their target price on Casey’s General Stores from $830.00 to $860.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. The Goldman Sachs Group upped their price objective on Casey’s General Stores from $530.00 to $605.00 and gave the stock a “neutral” rating in a report on Wednesday, March 11th. Royal Bank Of Canada upped their price objective on Casey’s General Stores from $662.00 to $713.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 10th. Wells Fargo & Company upped their price objective on Casey’s General Stores from $745.00 to $910.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Evercore reiterated an “outperform” rating and issued a $915.00 price objective on shares of Casey’s General Stores in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $752.36.

Casey’s General Stores Trading Up 1.2%

Shares of CASY stock opened at $754.21 on Wednesday. Casey’s General Stores, Inc. has a 1-year low of $433.16 and a 1-year high of $901.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The business has a 50-day moving average of $782.11 and a 200 day moving average of $669.99. The stock has a market capitalization of $27.88 billion, a PE ratio of 43.30, a P/E/G ratio of 2.06 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.55. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.08 billion. Casey’s General Stores had a return on equity of 17.56% and a net margin of 3.83%.The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, sell-side analysts anticipate that Casey’s General Stores, Inc. will post 18.19 earnings per share for the current year.

Casey’s General Stores Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, May 1st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.09%.

Insider Buying and Selling

In other news, Director Mike Spanos bought 300 shares of the stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the purchase, the director directly owned 4,499 shares in the company, valued at $2,993,769.57. This trade represents a 7.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katrina S. Lindsey sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the transaction, the insider owned 4,039 shares of the company’s stock, valued at approximately $2,758,798.56. The trade was a 4.72% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Company Profile

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.