Northwestern Mutual Wealth Management Co. Buys 2,657,687 Shares of Casey’s General Stores, Inc. $CASY

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 179,938.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,659,164 shares of the company’s stock after purchasing an additional 2,657,687 shares during the quarter. Casey’s General Stores accounts for about 0.7% of Northwestern Mutual Wealth Management Co.’s holdings, making the stock its 21st largest position. Northwestern Mutual Wealth Management Co. owned about 0.07% of Casey’s General Stores worth $1,469,747,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Casey’s General Stores by 35.4% in the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock worth $447,403,000 after purchasing an additional 206,777 shares during the period. M&T Bank Corp increased its position in shares of Casey’s General Stores by 15,024.5% during the fourth quarter. M&T Bank Corp now owns 193,140 shares of the company’s stock valued at $106,750,000 after buying an additional 191,863 shares during the period. Barclays PLC lifted its holdings in shares of Casey’s General Stores by 717.6% in the third quarter. Barclays PLC now owns 159,106 shares of the company’s stock worth $89,946,000 after buying an additional 139,647 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Casey’s General Stores by 146.4% in the third quarter. Squarepoint Ops LLC now owns 157,119 shares of the company’s stock valued at $88,823,000 after acquiring an additional 93,366 shares during the period. Finally, Holocene Advisors LP boosted its position in shares of Casey’s General Stores by 98.2% in the second quarter. Holocene Advisors LP now owns 150,075 shares of the company’s stock valued at $76,579,000 after acquiring an additional 74,371 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Insider Transactions at Casey’s General Stores

In other news, Director Mike Spanos purchased 300 shares of the company’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $665.43 per share, with a total value of $199,629.00. Following the completion of the purchase, the director directly owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Katrina S. Lindsey sold 200 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the transaction, the insider owned 4,039 shares of the company’s stock, valued at $2,758,798.56. The trade was a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company’s stock.

Casey’s General Stores Trading Down 2.8%

Shares of CASY opened at $852.75 on Friday. Casey’s General Stores, Inc. has a 1-year low of $433.16 and a 1-year high of $901.00. The company has a market capitalization of $31.52 billion, a P/E ratio of 48.95, a P/E/G ratio of 2.43 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64. The firm’s 50 day simple moving average is $751.84 and its 200 day simple moving average is $647.10.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.55. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. Casey’s General Stores had a net margin of 3.83% and a return on equity of 17.56%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 EPS. Sell-side analysts forecast that Casey’s General Stores, Inc. will post 18.24 earnings per share for the current fiscal year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.57 per share. The ex-dividend date was Friday, May 1st. This represents a $2.28 dividend on an annualized basis and a yield of 0.3%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 13.09%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CASY shares. Royal Bank Of Canada upped their target price on shares of Casey’s General Stores from $662.00 to $713.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 10th. Stephens reissued an “overweight” rating and issued a $680.00 price target on shares of Casey’s General Stores in a report on Tuesday, March 10th. Wall Street Zen lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $700.00 price target on shares of Casey’s General Stores in a report on Wednesday, March 4th. Finally, Jefferies Financial Group lifted their price objective on Casey’s General Stores from $700.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $725.09.

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.