Great Lakes Advisors LLC Purchases New Stake in Casey’s General Stores, Inc. $CASY

Great Lakes Advisors LLC acquired a new position in Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,426 shares of the company’s stock, valued at approximately $2,723,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after acquiring an additional 52,250 shares during the last quarter. Burns J W & Co. Inc. NY lifted its stake in shares of Casey’s General Stores by 103.5% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock valued at $1,782,000 after purchasing an additional 1,245 shares during the period. North Dakota State Investment Board bought a new position in shares of Casey’s General Stores in the 4th quarter worth $720,000. Jackson Creek Investment Advisors LLC bought a new position in shares of Casey’s General Stores in the 4th quarter worth $1,338,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Casey’s General Stores by 52.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company’s stock worth $12,431,000 after purchasing an additional 5,846 shares during the period. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Trading Down 0.9%

NASDAQ CASY opened at $828.38 on Friday. The firm has a market cap of $30.66 billion, a P/E ratio of 43.23, a P/E/G ratio of 2.80 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The stock’s 50-day moving average is $838.47 and its 200-day moving average is $775.47. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $1.06. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.63 EPS. Sell-side analysts anticipate that Casey’s General Stores, Inc. will post 21.11 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Saturday, August 1st were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio is currently 13.57%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CASY. Royal Bank Of Canada reissued a “sector perform” rating and issued a $913.00 target price on shares of Casey’s General Stores in a research note on Wednesday, July 29th. Morgan Stanley upgraded Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a research note on Monday, June 15th. Northcoast Research raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $950.00 price objective on the stock in a research note on Monday, July 13th. Finally, UBS Group boosted their price objective on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average price target of $944.20.

Insider Activity at Casey’s General Stores

In related news, Director Allison M. Wing sold 530 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the completion of the transaction, the director directly owned 3,042 shares of the company’s stock, valued at approximately $2,547,918.36. This represents a 14.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Darren M. Rebelez sold 19,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the transaction, the chief executive officer directly owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,243 shares of company stock valued at $24,421,877 over the last three months. Insiders own 0.67% of the company’s stock.

About Casey’s General Stores

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.