Fifth Third Bancorp Purchases 19,076 Shares of Casey’s General Stores, Inc. $CASY

Fifth Third Bancorp raised its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 4,138.0% during the first quarter, HoldingsChannel reports. The firm owned 19,537 shares of the company’s stock after purchasing an additional 19,076 shares during the period. Fifth Third Bancorp’s holdings in Casey’s General Stores were worth $14,220,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division lifted its position in Casey’s General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares during the last quarter. True Wealth Design LLC grew its position in Casey’s General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Casey’s General Stores during the first quarter worth approximately $33,000. ORG Partners LLC raised its stake in shares of Casey’s General Stores by 47.6% during the fourth quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after acquiring an additional 20 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of Casey’s General Stores in the 3rd quarter worth approximately $35,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Trading Down 1.4%

NASDAQ:CASY opened at $847.19 on Wednesday. The firm has a market capitalization of $31.35 billion, a P/E ratio of 44.22, a P/E/G ratio of 2.58 and a beta of 0.62. 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 fifty day moving average of $824.04 and a 200 day moving average of $727.24. 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 announced its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share (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 business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm earned $2.63 EPS. The company’s revenue was up 14.5% on a year-over-year basis. On average, research analysts predict that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, July 31st. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. Casey’s General Stores’s payout ratio is 11.90%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CASY shares. Evercore reaffirmed an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a research note on Friday, June 12th. Capital One Financial began 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 target price on the stock. 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 research note on Thursday, June 11th. UBS Group boosted 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. Finally, Stephens set a $975.00 price objective on Casey’s General Stores and gave the company an “overweight” rating in a research note on Friday, June 12th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $940.00.

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 that occurred on Wednesday, July 8th. The stock was 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Allison M. Wing sold 530 shares of Casey’s General Stores stock in a transaction that occurred 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 completion of the sale, the director owned 3,042 shares in the company, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,243 shares of company stock valued at $24,421,877 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.