Sanctuary Advisors LLC Acquires Shares of 22,287 Casey’s General Stores, Inc. $CASY

Sanctuary Advisors LLC acquired a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, Holdings Channel reports. The fund acquired 22,287 shares of the company’s stock, valued at approximately $17,713,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Casey’s General Stores by 7.4% during the fourth 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 last quarter. Burns J W & Co. Inc. NY grew its position in Casey’s General Stores by 103.5% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock valued at $1,782,000 after buying an additional 1,245 shares during the last quarter. North Dakota State Investment Board acquired a new position in Casey’s General Stores in the 4th quarter valued at $720,000. Jackson Creek Investment Advisors LLC purchased a new position in Casey’s General Stores during the 4th quarter worth $1,338,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in Casey’s General Stores by 52.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock worth $12,431,000 after buying an additional 5,846 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Casey’s General Stores

In other news, insider Katrina S. Lindsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total transaction of $1,600,000.00. Following the sale, the insider owned 6,668 shares of the company’s stock, valued at $5,334,400. The trade was a 23.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Michael Frazell sold 3,013 shares of the company’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 owned 9,823 shares in the company, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CASY shares. The Goldman Sachs Group boosted their price target on shares of Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. lifted their price objective on Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a report on Friday, June 12th. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $944.20.

Casey’s General Stores Stock Performance

Shares of CASY opened at $835.74 on Monday. The company has a 50-day simple moving average of $837.28 and a 200-day simple moving average of $776.94. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $30.93 billion, a PE ratio of 43.62, a P/E/G ratio of 2.86 and a beta of 0.61. Casey’s General Stores, Inc. has a 52-week low of $490.00 and a 52-week high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the firm earned $2.63 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Equities research analysts predict that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal 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 given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is 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.