Northwestern Mutual Wealth Management Co. Buys New Shares in Casey’s General Stores, Inc. $CASY

Northwestern Mutual Wealth Management Co. bought a new stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,018 shares of the company’s stock, valued at approximately $809,000.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after acquiring an additional 52,250 shares during the last quarter. Burns J W & Co. Inc. NY grew its holdings in shares of 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 worth $1,782,000 after acquiring an additional 1,245 shares during the last quarter. North Dakota State Investment Board acquired a new position in shares of Casey’s General Stores in the 4th quarter worth $720,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Casey’s General Stores during the fourth quarter worth $1,338,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Casey’s General Stores by 52.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock worth $12,431,000 after purchasing an additional 5,846 shares during the period. 85.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CASY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a research report on Monday, June 15th. Northcoast Research upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price objective on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on shares of Casey’s General Stores from $719.00 to $975.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Weiss Ratings cut shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group raised their target price on shares of Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $944.20.

Casey’s General Stores Price Performance

CASY opened at $824.92 on Wednesday. The stock has a fifty day moving average of $836.11 and a 200-day moving average of $779.69. The firm has a market capitalization of $30.53 billion, a P/E ratio of 43.05, a PEG ratio of 2.92 and a beta of 0.61. Casey’s General Stores, Inc. has a 12-month low of $490.00 and a 12-month high of $927.85. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. The business 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%.Casey’s General Stores’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.63 earnings per share. Equities analysts forecast that Casey’s General Stores, Inc. will post 21.11 EPS for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders 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 yield of 0.3%. The ex-dividend date was Friday, July 31st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is 13.57%.

Insider Activity at Casey’s General Stores

In other news, Director Allison M. Wing sold 530 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the sale, the director directly owned 3,042 shares of the company’s stock, valued at $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,243 shares of company stock worth $24,421,877. Company insiders own 0.67% of the company’s stock.

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.