Casey’s General Stores, Inc. $CASY Shares Purchased by Iowa State Bank

Iowa State Bank raised its holdings in Casey’s General Stores, Inc. (NASDAQ:CASY) by 72.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,710 shares of the company’s stock after purchasing an additional 1,555 shares during the quarter. Iowa State Bank’s holdings in Casey’s General Stores were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Casey’s General Stores during the second quarter worth about $2,759,895,000. Bank of America Corp DE acquired a new stake in shares of Casey’s General Stores during the 2nd quarter valued at approximately $281,872,000. Bank of New York Mellon Corp purchased a new stake in shares of Casey’s General Stores during the 2nd quarter worth approximately $281,011,000. Jupiter Topco LLC purchased a new stake in shares of Casey’s General Stores during the 2nd quarter worth approximately $246,982,000. Finally, Franklin Resources Inc. grew its holdings in shares of Casey’s General Stores by 40.9% in the 4th 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 period. 85.63% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY traded up $1.63 during trading on Tuesday, reaching $618.96. The company had a trading volume of 307,233 shares, compared to its average volume of 525,759. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 0.57. Casey’s General Stores, Inc. has a twelve month low of $497.38 and a twelve month high of $927.85. The stock has a 50-day moving average price of $738.65 and a two-hundred day moving average price of $777.37. The stock has a market capitalization of $22.88 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.01 and a beta of 0.59.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 EPS for the quarter, beating analysts’ consensus estimates of $6.78 by $0.59. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.56 billion. Casey’s General Stores had a return on equity of 19.68% and a net margin of 4.14%.The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.77 earnings per share. As a group, sell-side analysts predict that Casey’s General Stores, Inc. will post 21.43 earnings per share for the current year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Sunday, November 1st will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. Casey’s General Stores’s payout ratio is 12.52%.

Insider Buying and Selling

In other Casey’s General Stores news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the stock in a transaction 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 transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at $24,874,074.32. This represents a 16.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total value of $443,917.40. Following the sale, the director owned 3,042 shares in the company, valued at $2,547,918.36. This trade represents a 14.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

CASY has been the subject of several research analyst reports. BNP Paribas Exane dropped 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 note on Thursday, June 25th. Wells Fargo & Company cut their price target on Casey’s General Stores from $960.00 to $750.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Capital One Financial started coverage on shares of Casey’s General Stores in a research report on Monday, June 22nd. They issued an “equal weight” rating and a $896.00 price objective on the stock. The Goldman Sachs Group set a $750.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, September 9th. Finally, Raymond James Financial upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $750.00 target price for the company in a report on Thursday, September 10th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $840.69.

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.