Silvant Capital Management LLC Acquires Shares of 7,747 Casey’s General Stores, Inc. $CASY

Silvant Capital Management LLC bought a new stake in Casey’s General Stores, Inc. (NASDAQ:CASY) during the 2nd quarter, HoldingsChannel reports. The firm bought 7,747 shares of the company’s stock, valued at approximately $6,157,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Casey’s General Stores in the 2nd quarter valued at about $2,759,895,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Casey’s General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Norges Bank purchased a new position in shares of Casey’s General Stores in the fourth quarter valued at approximately $265,163,000. Bank of New York Mellon Corp acquired a new stake in shares of Casey’s General Stores in the second quarter worth approximately $281,011,000. Finally, Franklin Resources Inc. boosted its stake in shares of Casey’s General Stores by 40.9% in the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock worth $590,671,000 after acquiring an additional 310,470 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the subject of several recent research reports. Stephens set a $975.00 price objective on Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. Wolfe Research reaffirmed an “outperform” rating and set a $1,069.00 target price on shares of Casey’s General Stores in a research note on Thursday, June 11th. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a report on Wednesday, June 10th. BMO Capital Markets upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price for the company in a research report on Monday, June 29th. Finally, Evercore reissued an “outperform” rating and issued a $990.00 price target on shares of Casey’s General Stores in a research note on Friday, June 12th. Fourteen investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $828.38 on Friday. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company has a market cap of $30.66 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 2.80 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 business’s 50 day moving average price is $838.47 and its 200 day moving average price is $775.47.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.63 EPS. On average, research analysts predict that Casey’s General Stores, Inc. will post 21.11 EPS for the current year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were issued a dividend of $0.65 per share. The ex-dividend date was Friday, July 31st. This represents a $2.60 annualized dividend and a dividend 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 payout ratio is presently 13.57%.

Insider Activity

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the transaction, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. The trade was a 16.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the sale, the insider directly owned 9,823 shares in the company, valued at approximately $7,735,514.27. The trade was a 23.47% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 30,243 shares of company stock worth $24,421,877. Insiders own 0.67% of the company’s stock.

Casey’s General Stores 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.