Cibc World Market Inc. Buys New Shares in Casey’s General Stores, Inc. $CASY

Cibc World Market Inc. bought a new position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,772 shares of the company’s stock, valued at approximately $6,177,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new position in shares of Casey’s General Stores in the first quarter valued at $33,000. Bell Investment Advisors Inc bought a new stake in shares of Casey’s General Stores during the 2nd quarter worth $33,000. Larson Financial Group LLC grew its holdings in shares of Casey’s General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company’s stock worth $41,000 after acquiring an additional 53 shares during the last quarter. RMG Wealth Management LLC grew its holdings in shares of Casey’s General Stores by 250.0% in the 1st quarter. RMG Wealth Management LLC now owns 56 shares of the company’s stock worth $41,000 after acquiring an additional 40 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new position in Casey’s General Stores in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

Casey’s General Stores Stock Down 3.4%

NASDAQ:CASY opened at $824.92 on Wednesday. The firm has a market capitalization of $30.53 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 2.92 and a beta of 0.61. Casey’s General Stores, Inc. has a 1-year low of $490.00 and a 1-year high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $836.11 and its 200 day moving average price is $779.69.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the company posted $2.63 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts forecast 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. Investors of record on Saturday, August 1st were issued a dividend of $0.65 per share. This is an increase 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%. The ex-dividend date was Friday, July 31st. Casey’s General Stores’s dividend payout ratio is 13.57%.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Allison M. Wing sold 530 shares of the stock in a transaction that occurred 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 sale, the director owned 3,042 shares in the company, valued at $2,547,918.36. This represents a 14.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Michael Frazell sold 3,013 shares of Casey’s General Stores stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the sale, the insider directly owned 9,823 shares of the company’s stock, valued at $7,735,514.27. This trade represents a 23.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 in the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings downgraded Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. BMO Capital Markets upgraded shares of Casey’s General Stores from a “market perform” rating to an “outperform” rating and set a $950.00 target price for the company in a report on Monday, June 29th. 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 report on Wednesday, July 29th. BNP Paribas Exane cut their price target on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Finally, Wells Fargo & Company upped their price target on shares of Casey’s General Stores from $910.00 to $960.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $944.20.

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.