77,759 Shares in Casey’s General Stores, Inc. $CASY Acquired by Dearborn Partners LLC

Dearborn Partners LLC bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) during the second quarter, HoldingsChannel.com reports. The firm bought 77,759 shares of the company’s stock, valued at approximately $56,597,000. Casey’s General Stores makes up approximately 3.0% of Dearborn Partners LLC’s holdings, making the stock its 3rd largest holding.

Several other institutional investors have also modified their holdings of the business. Bell Investment Advisors Inc purchased a new stake in shares of Casey’s General Stores during the second quarter worth $33,000. Whipplewood Advisors LLC purchased a new position in Casey’s General Stores in the first quarter valued at $33,000. RMG Wealth Management LLC grew its stake in Casey’s General Stores by 250.0% during the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after purchasing an additional 40 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Casey’s General Stores during the 2nd quarter worth about $55,000. Finally, Western Pacific Wealth Management LP purchased a new stake in Casey’s General Stores during the 1st quarter worth about $52,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity at Casey’s General Stores

In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer owned 29,677 shares in the company, valued at approximately $24,874,074.32. This trade represents a 16.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Darren M. Rebelez sold 19,000 shares of Casey’s General Stores stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer directly owned 89,174 shares in the company, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,243 shares of company stock worth $24,421,877 in the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

CASY has been the subject of a number of analyst reports. BNP Paribas Exane lowered their price objective on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. UBS Group lifted their price target on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. KeyCorp boosted their price target on shares of Casey’s General Stores from $950.00 to $970.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Weiss Ratings downgraded shares of Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Finally, Evercore restated an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a report on Friday, June 12th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average price target of $944.20.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $854.21 on Tuesday. The firm has a market cap of $31.61 billion, a P/E ratio of 44.58, 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. The business’s 50-day moving average price is $836.91 and its 200 day moving average price is $778.44. 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 posted its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $2.63 EPS. On average, equities research analysts expect that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Saturday, August 1st were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.60 annualized dividend and a yield of 0.3%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

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.