First Hawaiian Bank Trims Position in Casey’s General Stores, Inc. $CASY

First Hawaiian Bank lessened its holdings in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,427 shares of the company’s stock after selling 932 shares during the quarter. First Hawaiian Bank’s holdings in Casey’s General Stores were worth $4,960,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CASY. Wellington Management Group LLP lifted its stake in shares of Casey’s General Stores by 190.6% during the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock worth $540,081,000 after purchasing an additional 816,110 shares during the period. GAMMA Investing LLC lifted its stake in shares of Casey’s General Stores by 54,448.8% during the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company’s stock worth $236,054,000 after purchasing an additional 542,855 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Casey’s General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock worth $449,851,000 after purchasing an additional 306,628 shares during the period. Third Point LLC purchased a new position in shares of Casey’s General Stores during the 1st quarter worth $130,212,000. Finally, Nuveen LLC purchased a new position in shares of Casey’s General Stores during the 1st quarter worth $76,467,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $507.56, for a total value of $385,745.60. Following the completion of the sale, the chief financial officer directly owned 25,994 shares in the company, valued at approximately $13,193,514.64. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mike Spanos purchased 200 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $503.18 per share, with a total value of $100,636.00. Following the completion of the acquisition, the director owned 3,560 shares in the company, valued at $1,791,320.80. This represents a 5.95% increase in their position. The disclosure for this purchase can be found here. Insiders sold 42,646 shares of company stock worth $21,634,454 in the last quarter. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. KeyCorp increased their price target on Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. BMO Capital Markets increased their price target on Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a research note on Wednesday. Stephens restated an “overweight” rating and set a $530.00 price objective on shares of Casey’s General Stores in a report on Tuesday. Royal Bank Of Canada upped their price objective on Casey’s General Stores from $468.00 to $542.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company upped their price objective on Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a report on Monday. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $505.25.

Casey’s General Stores Trading Up 2.9%

CASY stock opened at $553.99 on Friday. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 35.56 and a beta of 0.66. The company has a quick ratio of 0.48, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $515.51 and a 200-day simple moving average of $471.14. Casey’s General Stores, Inc. has a 52 week low of $362.42 and a 52 week high of $557.38.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the prior year, the firm earned $4.83 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current year.

Casey’s General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Saturday, November 1st will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, October 31st. Casey’s General Stores’s dividend payout ratio is currently 14.63%.

Casey’s General Stores Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.